Unemployment rate in Jammu and Kashmir is higher than average National unemployment rate, with JK's having 24.6 percent population in the age of (18-29 years) unemployed which is far more than All India unemployment rate of 13.2 percent, reveals an official report.
JK which is already facing the brunt of turmoil resulting in negligible investments with business marred by uncertainties, the unemployment rate indicates the problems which educated youth in Kashmir go through. "In JK, unemployment rate is 24.6 percent using Usual Principal Status (UPS) approach, while as the persons in the age of 18-29 years had UR 13.2 percent at the All India Level using UPS approach," states the Economic Survey Report 2016.
It adds that unemployment rate in the age group of 18-29 years is highest among females i.e 45.1 percent. While as among male in the same age group the unemployment rate is 17.8 percent.
Further the report mentions that in the age group of 30 years and above at all India level UR is 1.6 percent while in JK it is 1.3 percent. The number of unemployed youth registered in various District Employment Exchanges of the JK State is 111077 lakh as on ending March. However, the number is only representing those youth who have registered themselves at various district employment exchanges, but it doesn't give actual figure of unemployment.
The Finance Minister, Haseeb Drabu, during his recent budget speech stated the government would conduct survey to know the exact number of unemployed youth in the state.
Unemployment rate in India has shot up in 2015-16, with the figure significantly higher at 8.7 per cent for women as compared to 4.3 per cent for men, states the report by Labour Bureau.
The figures could be an alarm bell for BJP-ruled government at the Centre, which has taken series of steps such as 'Make in India' to create jobs for inclusive growth in the country.
According to the fifth annual employment-unemployment survey at all-India level, about 77 per cent of the households were reported to be having no regular wage/salaried person. It said the unemployment rate was estimated to be 13.2 per cent at all-India level under the UPS (Usual Principal Status) approach. Unemployment rate was 4.9 per cent in 2013-14, 4.7 per cent (2012-13), 3.8 per cent (2011-12) and 9.3 per cent (2009-10). Labour Bureau did not bring out any such report for 2014-15.