Unemployment in India is going to increase marginally between 2017 and 2018. UN labor report signaling stagnation in job creation in the country.
The United Nations International Labour Organisation released its 2017 World Employment and Social Outlook report yesterday, finds economic growth trends lagging behind employment needs in India. It predicted both rising unemployment and worsening social inequality throughout 2017.
“Unemployment in India is projected to increase from 17.7 million last year to 17.8 million in 2017 and 18 million next year. In percentage, the unemployment rate will remain at 3.4 percent in 2017-18” the report added.
The report added that global labor force is expected to continue and unemployment levels are expected to remain the same. In developed countries, the rate is expected to come down from 6.2 per cent to 6.3 per cent.