ILO-ADB report: concern expressed on job loss of 41 lakh youth in India amid the Covid-19 pandemic
The joint report of the International Labour Organization and the Asian Development Bank titled ‘Tackling the COVID-19 youth employment crisis in Asia and the Pacific’ apprehended that the COVID-19 pandemic may hit with a job loss of 41 lakh youth in India. The report also added that a major percentage of job loss will be faced by the workers associated with the construction and farm sector.
What are the key findings of the report?
The report conducted a regional evaluation of the ‘Global Survey on Youth and COVID-19’.
- The youth of the age group of 15-24 are going to experience the maximum impact
- The pandemic outbreak severely affected the apprenticeship and internship program.
- The report considered three factors as responsible for this condition i.e. reduced working hours and wages, job losses, lack of training, and education.
Measures suggested by the report
The report suggested the government to take some actions with immediate effect on employment generation, training & education, and prevention of any further impact.
It suggested wage subsidies and public employment programs for the youths of India.
More inclusion of youth in the labor market with innovative solutions for better allocation of resources.
Global picture
The report showed an increasing trend in youth unemployment rates in countries like Indonesia, Australia, Malaysia, Japan, Vietnam, China.
International Labour Organization
ILO is an agency under the United Nations whose objective is to set international labor standards for the advancement of social and economic justice. It was established in 1919 and headquartered in Geneva, Switzerland.
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Month: Current Affairs - August, 2020