Statsguru: Six charts show the hiring season is looking grey yet again

The hiring season is looking grey yet again. In the last six years, graduates (20-24 years) have formed less than 10 per cent of the total people employed, shows data from the Centre for Monitoring Indian Economy (CMIE). Their numbers have plunged from 9.1 per cent in 2017-18 to 6.8 per cent in 2022-23 (chart 1).

In 2022-23, the unemployment rate in this age group was nearly six times (44.3 per cent) that of others (7.6 per cent) (chart 2).

In 12 states, it exceeded the all-India average. It was the worst for Andhra Pradesh, where 24 per cent of graduates were unemployed in 2022-23, shows Periodic Labour Force Survey (PLFS) report, which covers the July to June period. 

The job market remained skewed against women. For every one woman employed, 10 men got a job. 

In 2022-23, 15.5 per cent of women were unemployed compared to 11.2 per cent in 2017-18. Male unemployment also increased, from 3.7 per cent to 6.6 per cent (chart 4).

The labour force participation rate increased for both men and women from pre-pandemic levels, PLFS reports show.

Women turned to self-employment, and within it, largely unpaid work. Nearly 57 per cent were self-employed in 2022-23, a majority in household enterprises (chart 5).

Self-employed women earned 40 per cent less than men per month in 2021-22, shows the State of Working India report by Azim Premji University. Women in regular work earned 76 per cent of what men did in a month, and 64 per cent of men’s daily wages in casual work (chart 6).