News: India needs 100 Mn jobs by 2026 to support growth

#Jobs

India needs 100 Mn jobs by 2026 to support growth

Uttar Pradesh needs the highest number of job additions, at 24.3 million by 2026 followed by Maharashtra at 9.3 million.
India needs 100 Mn jobs by 2026 to support growth

According to a study released by PwC, India would need about 100 million jobs till 2026 to support the country's growth. Of these 100 million jobs, around 78 million jobs would be required to be generated in just ten states.

The study highlights that over the next decade, 80 percent of the new employment requirements would arise in the 10 states namely, Uttar Pradesh (UP), Madhya Pradesh, Chhattisgarh, Rajasthan, Jharkhand, Maharashtra, Odisha, West Bengal, Bihar and Assam. This accounts for 62 percent of the country's population.

Earlier as reported by the World Bank in a study had estimated that India would need about 8.1 million jobs annually. Additionally, UP emerged as the state that needs the highest number of jobs at 24.3 million by 2026 followed by Maharashtra at 9.3 million. A similar report by Motilal Oswal suggested that India is required to formulate around 10 million jobs every year until 2030 to reduce the growing unemployment in the country. Motilal Oswal was quoted in media saying, “Our calculation suggests that there are about 29 million labour force lying underused in India, and another four million discouraged females currently out of the labour force due to non-availability of work coupled with another three million workers looking to shift to a regular wage-paying job."

The PwC study highlights that only transformative solutions would help reduce the rural-urban divide, and restrict migration by shifting economic activity from larger cities to the districts.

Topics: Jobs, Talent Acquisition

Did you find this story helpful?

Author

QUICK POLL

Is technology the answer to new-age talent acquisition challenges?

On News Stands Now
q_auto,f_auto/v1560247231/mag-june-2019.png

Subscribe now to the All New People Matters in both Print and Digital for 3 years.

In the next three years, 120 million jobs in the world’s 10 largest economies will need retraining or re-skilling. To adapt to this new environment and help shape it, employees need to embrace continuous learning. Amid these changes, HR needs to not think, act, or be like traditional HR; they need to understand their job is now “human transformation”. In this issue, we will focus on what HR leaders and organizations need to consider today to prepare for tomorrow.

Subscribe
And Save 59%

Subscribe now