RightWalk / Background

RightWalk / Background

Apprenticeships … possible solution to tackle youth unemployment and a platform through which industries and establishments can hire cost-effective entry-level workforce

The initiatives taken by the government at the Centre and the Uttar Pradesh government to mitigate the challenges posed by Coronavirus, the 2020 lockdown and Covid second wave are highly commendable. Focused policy interventions and smooth implementation of policies have made industries, establishments, and other enterprises self-sufficient, and also ensured that the efforts of the government towards rehabilitating the youth would yield desired outcomes.

However, owing to Covid, companies may try to cut back on their human resource cost to reduce the financial losses at a time when business is bringing very little or no profits. Consequently, many citizens, especially those between the age of 20 and 30, may lose their jobs, substantially reducing their household income.

Youth unemployment is one of the most pressing challenges facing the country. As per last year’s Center for Monitoring Indian Economy (CMIE) report, it is estimated that about 14 crore people lost employment in the coronavirus-induced lockdown period in 2020. The report mentions that in 2020 there were six crore unemployed youth between the age of 15 and 24. As per a recent survey of 170,000 households by the CMIE, 41.2% of those surveyed had lost their jobs between December 2019 and April 2020. This figure rose to 58.5% for young people aged 15 to 24.

This presents a great challenge to the country’s demographic dividend.

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