The disruptions of the Fourth Industrial Revolution were hastened by the epidemic caused by the coronavirus. Pundits in the industry believe that the pandemic exacerbated the upheavals in the labor market that contributed to the development of Industry 4.0 and the Fifth Industrial Revolution.
For the first time, job creation is falling behind job destruction in this new setting, which will have a negative impact on workers who are already in disadvantageous positions.
The problem of high unemployment in India existed before to the pandemic. In 2019, the overall unemployment rate for the country was 5.27 percent, whereas the unemployment rate for young people was 22.74 percent. The rate of unemployment fell from 8 percent in 2021 to 5.98 percent in the following year. Those looking for work in India continued to put themselves in harm’s way. The percentage of youth unemployment in India skyrocketed to 28.26 percent in 2021, up from 24.90 percent in the first wave caused by the viral epidemic.
A future filled with mass job displacement, skill shortages, and the gradual replacement of human intelligence by artificial intelligence will force companies to tap into the full potential of their employees. Education, acquiring new knowledge, and improving one’s skills can all be beneficial, but they are especially important for the country’s rural young population, which accounts for 67–68 percent of the total.
According to Amit Shah, “the future of a country is not defined by the number of factories it possesses, how powerful its military is, or how much revenue it collects.”
He remarked that the destiny of the country will be determined by the number of children who used libraries.
One of the primary reasons for unemployment in India is the country’s inadequate supply of skilled workers. Indian youngsters are lacking up-to-date employment skills despite having completed their education and meeting the fundamental requirements. The problem is currently being worked on.
In 2015, the government of India began the National Skill India Mission to teach young people work skills. To combat poverty and assist young people from disadvantaged backgrounds, the government provides vocational training.
Because of the significant demographic gap, urban plans frequently ignore the concerns of rural areas.
Agriculture is responsible for the employment of sixty percent of the population yet only accounts for twenty percent of GDP (GDP). This reliance on agriculture, coupled with a dearth of work possibilities, contributes to the poverty that plagues rural areas and drives migration.
Young people in rural areas require skills in order to be employed in farming and other fields. The demographic dividend of India can be capitalized on by providing education and work opportunities for 68 percent of the country’s rural youth. In these regions, there is a concentration on academics, which results in a disregard for vocational training and the development of skills. Additionally, there is a shortage of competent trainers. In 2017-2018, there was a paucity of vocational training for 93.7 percent of adolescents.
The majority, particularly women, do not have access to transportation that can take them to local training institutes. Many young people in rural areas leave for the metropolis, choosing not to work in agriculture, which is the most important industry in the country. Young people in rural areas need to change their perception that farming is a difficult and unproductive occupation.
New technologies in Agri-extension, food processing, and Agri-e-commerce will all contribute to the creation of new job opportunities. This demand can be satisfied via specialized classes. Young people in rural areas have the potential to have successful jobs if they have proper education and understanding.
To address the issues that are now present in the labor market, governments need to devise a comprehensive plan that incorporates education providers, skills, workers, and businesses.
The Indian agricultural sector needs to become more profitable to entice investors and prevent the loss of second and third-generation farmers to urban areas. The employment rate of young people in rural areas can be lowered by providing them with training to improve agricultural output.
By instructing farmers in the use of technology to make traditional agricultural practices more cost-effective and productive, we can reduce the amount of risk associated with the farmers’ income sources and ensure that they receive a fair price for their goods. Training young people in rural areas in the administration of warehouses, logistics, and crop-yielding techniques can keep them from being forced into commercialization and generate new work opportunities.