Issue Details
UNEMPLOYMENT AND HUMAN CAPITAL WASTAGE IN THE YOUTH (AGED 15-29) OF BIHAR WITHIN THE PAST 3 DECADES
Dominic Amalan A, Dr. Poonam
Page No. : 25-32
ABSTRACT
Over the last three decades, there has been a dramatic increase in the number of young people forced to navigate the complex world where global economic forces coexist with nationally and regionally portrayed financial strategies. Plans for the labor market from the late 1990s through the early 2020s, with a focus on the years 1999/2000, 2009/2010, and 2020/21, will be examined in this research. According to data from the International Labor Organization (ILO), the youth unemployment rate has been rising steadily since roughly 2011. This comes after it had declined noticeably from its high point at the start of the global economic collapse. By 2013, it will be more familiar to 28 million young people. (ILO 2012). As a result, starting in roughly 2011, there has been a consistent increase in the general young unemployment rate, which is estimated at 12.6% (in 2011) and reached 12.8% by 2018. Among those aged 25 and older, the unemployment rate in 2013 was 4.6%; nonetheless, most were still earning some money. (ILO 2012). This study analyses two potential solutions to the "problem" of youth unemployment: training and strict regulation of the labor market.
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