This survey was conducted in the South Asian countries and therefore the comparison is natural between the countries. As per this survey, around 50 percent youth of South Asia will not have the required skills to apply for a decent job by 2030. This statement was confirmed by Henrietta H Fore who is currently the head of UNICEF.
What’s more shocking is the fact that around 53 percent of the youth in India will pass out from secondary school without sufficient skills. As per CMIE ( Centre for Monitoring Indian Economy), the rate of unemployment is 8.45 percent at the present which has been the worst in the last 45 years.
Around 1 lakh young individuals trying to find new jobs in the labor market of South Asia each day. However, almost 50 percent of them are not directed in the right direction to explore the jobs that are decent enough to help them earn a good living.
Fore stated that the situation is critical at this period because there are talented young people in South Asia and it can benefit hugely from the demographic diversity. She also did not forget to mention that the period to align in the right direction is limited and the South Asian countries must try their best to achieve that. “The countries that will succeed in taking the right steps will be able to uplift their economy and poorer sections but if they fail to do so then the economy will slow down and the talented individuals will be forced to leave their homeland”, she said.
The sad news is that India seems to have the most unskilled labor and talent currently. The percentage of youth which is moving forward in the right direction is only 19% in India whereas countries like Sri Lanka and Bhutan are placed safely at 61% and 47% respectively.
The massive cut down of senior-level employees in Infosys, Cognizant, and Capgemini is certainly a big reason for worrying. Also, some companies like BSNL are facing crisis due to pending dues. On this account, UNICEF has asked the Indian government to take steps and necessary initiatives to combat the crisis of economy and unemployment.
Women & Child Development Minister Ms. Smriti Irani said that India will initiate the skilling of youth soon. This initiative is supported by UNICEF and aims to skill more than 300 million young boys and girls in the coming years. However, why such initiatives haven’t been taken earlier and why the government has waited for things to worse are the questions that can prove to be a nightmare for the government in the coming elections.