CARMEL CONVENT H.S.

SCHOOL

CLASS XII B
ECONOMICS PRACTICAL
2023-24

SUBMITTED BY :- Vikas Jamra SUBMITTED TO :- MEERA MAM

 ACKNOWLEDGEMENT

I would like to express my special thanks of my gratitude to my Teacher

MEERA MAM who gave me the golden opportunity to do this Practical of
ECONOMICS on CONTEMPORARY EMPLOYMENT SITUATION IN
INDIA.

I would also like to thank my Parents and Friends who helped me a lot in
finishing this project.

THANK YOU.
 CERTIFICATE

This is to certifiy that I AM VIKAS JAMRA of class XIIth 'B'

has made practical under the guidance of MEERA mam.
She worked with full dedication and sincerely for the
sucessful completion of this practical. The work done by her
is to the satisfactory level and this practical is a bonafide
piece of work carried out with consulation of supervisor.
 Contemporary Employment
Situation in India

India's economy is one of the

fastest growing in the world,
and with a population of 1.3
billion people, there is a huge
demand for jobs. Let's explore
the current employment
situation in India.
 Economic Overview of India
India is the 3rd largest economy in the world in terms
of purchasing power parity. With a projected GDP
growth rate of 7% for 2021, India's economy is
expected to continue its impressive growth. However,
the economy is still highly dependent on agriculture,
which presents challenges for growth in other sectors.
 Overview of Indian Job Market
Diverse Workforce
The Indian job market is known for its diversity, with
people from various backgrounds and skillsets
contributing to the economy.

Thriving Industries

India's job market encompasses a wide

range of industries, including IT services,
manufacturing, healthcare, and e-commerce.

Startup Culture

The rise of startups in India has created

new job opportunities and fostered
innovation in different sectors.
 Unemployment Rate in India
Chronic Issue 📉 Urban vs. Rural Youth Unemployment
🏙vs.🌾 👨👧
India's unemployment
rate has been a The unemployment rate The high youth
persistent challenge, varies significantly unemployment rate has
affecting millions of job between urban and rural emerged as a critical
seekers across the areas, with different concern, reflecting the
country. factors driving joblessness need for targeted
in each. initiatives to address
this issue.
Unemployment Rate in India
Graph
 Employment Rate in
the India
Rural-Urban Divide
Youth Employment
The employment rate in
India has a huge population
urban areas is higher than
of youth (15-29 years old),
in rural areas. However,
who make up almost a third
many jobs in urban of the total population.
centres are informal, and Youth unemployment is a
lack job security and major challenge in India.
benefits.
 Gender Disparities Informal Sector

Around 81% of India's

Women in India still face
workforce is engaged in
significant challenges in
the informal sector, which
the job market, due to
is characterized by low
cultural and social
wages and lack of job
barriers. The workforce
security. This presents
participation rate for challenges for workers'
women is only around rights and social
24%. protections.
 Types of Employment in India

Formal Sector 💼

Employment opportunities in public and private sectors, with benefits such

as job security, regulated working hours, and social protections.

Informal Sector 👷

A significant part of the workforce engages in informal employment,

characterized by lack of job security, limited benefits, and low wages.
 Self-Employment 🔧

An increasing number of individuals are opting for self-employment,

starting their own businesses or working as freelancers..

Gig Economy 🚖

Rapid growth of gig economy platforms has opened new avenues for
flexible work arrangements, attracting a diverse range of workers.
 Impact of Technology on
Employment in India

The rise of automation and AI in the workplace

is changing the job market in India, presenting
both opportunities and challenges. Many
low-skilled jobs are at risk of automation, but
there is also growing demand for workers with
tech skills.
The New Normal

Covid-19 has accelerated the adoption of technology in Indian workplaces,

making remote work more common and increasing the need for digital skills.

Upskilling

To stay relevant in the job market, workers in India need to constantly upskill and
embrace new technologies. The government has launched several initiatives to support
upskilling in the workforce.
AI and Automation

The use of AI and automation in the workplace is growing

rapidly, particularly in sectors like manufacturing and IT. This
presents challenges for workers whose jobs are at risk of
automation.
 Major Sectors Driving
Job Growth
Manufacturing

Manufacturing has been a major driver of job growth in

India for several decades, and continues to be a key
sector. Key industries include textiles, pharmaceuticals,
and consumer goods.
Tourism

India has a rapidly growing tourism industry, attracting

millions of visitors every year. This creates job
opportunities in hotels, restaurants, and transportation.

Construction

India has a booming construction industry, with massive

projects like new airports, highways, and railways. This
creates job opportunities for skilled and unskilled workers
alike.
 Employment Trends

Rise of Freelancing Shift towards Skill-Based Hiring

Remote Work
The gig economy has Employers now
Technology
gained momentum, prioritize specific
advancements and
with more skills and expertise,
changing attitudes
professionals opting have led to an leading to a shift
for freelance work and increase in remote from traditional
project-based work options across qualification-based
assignments. industries. hiring practices.
 Impact of Technology
Automation

The automation of repetitive tasks has both created job

opportunities and transformed existing job roles.

Emerging Tech Fields

Technologies like artificial intelligence, data science, and

cybersecurity are in high demand, creating new career paths.
 Remote Collaboration

Technology tools have enabled seamless remote collaboration,

facilitating distributed workforces.

Upskilling and Reskilling

Technology advancements necessitate a continuous focus on

upskilling and reskilling to stay relevant in the job market.
 Gig Economy
Freelancing
Opportunities

The gig economy has

provided individuals with
flexible work options,
allowing them to choose
projects and clients.
Rideshare and Delivery Services

Platforms like Uber, Ola, and Swiggy

have opened up income
opportunities for individuals across
the country.

Online Marketplace Sellers

Platforms like Amazon, Flipkart, and

Etsy have empowered individuals to
start their own businesses and sell
products online.
 COVID-19 Impact
Remote Work Job Losses and Digital
Transformation Reskilling Transformation

The pandemic Many industries faced Companies embraced

accelerated the severe disruptions, digital technologies to
adoption of remote resulting in job losses ensure business
work, leading to a and a need for continuity, leading to
permanent shift in reskilling to meet new increased demand for
work arrangements. industry demands. digital skills.
 Government Initiatives for Job Creation

Make in India

The government's flagship

initiative to promote
manufacturing and attract
foreign investment, aiming to
boost job creation.
 Skill India

The Skill India initiative aims

to upskill and reskill the
workforce to bridge the gap
between industry
requirements and workforce
capabilities.
 Start-up India

The Startup India

program supports
entrepreneurship and
facilitates the growth of
startups through
funding, incubation, and
policy support.
 Current Challenges and
Opportunities in the Job Market
The job market in India is facing many challenges,
including lack of job security, low wages, and
mismatch between skills and demand. However,
there are also many opportunities in growing
sectors such as IT, healthcare, and renewable
energy.
 Changing Workforce Demands

The job market in India

is rapidly changing,
with growing demand
for skilled workers in
new fields like AI and
data science.
 Healthcare
The healthcare sector
in India is growing
rapidly, creating new
job opportunities in
areas like nursing,
medical technology,
and pharmaceuticals.
 Renewable Energy
With a strong emphasis
on sustainability and
reducing carbon
emissions, India is
investing heavily in
renewable energy, leading
to a growing number of
jobs in solar and wind
energy.
 Skills in Demand
IT Skills

Technical skills like

coding, software
development, and data
analytics continue to be
in high demand in the
Indian job market.
 Digital Marketing

With the growth of the

digital landscape,
companies seek
professionals with
expertise in digital
marketing strategies and
analytics.
 Healthcare
Professionals

The healthcare sector

requires skilled doctors,
nurses, and allied health
professionals to cater to
the growing population's
needs.
 Challenges Faced

Skills Mismatch

A gap exists between the skills possessed by job

seekers and the skills required by employers,
leading to unemployment.
 Job Security

Many professionals face uncertainties in

terms of job stability due to economic
fluctuations and changing industry
dynamics.
 Gender Disparities

Gender inequalities persist, with

women facing challenges related to
pay gaps, limited opportunities, and
work-life balance.
 Future Outlook

Emergence of New Industries

As the country continues to develop, new

industries will emerge, creating novel job
opportunities.
Focus on Sustainability

With increas ining environmental

concerns, sustainability-focused roles
and industries are expected to gain
prominence.
Continued Technological Advancements

Technology will continue to shape the job

market, requiring individuals to adapt
and upskill regularly.