In a major concern for the youth of Jammu Kashmir unemployment in the region has reached its highest in 5 years with the rate of unemployment standing at 25%.
Centre for Monitoring Indian Economy (CMIE) has pegged India’s unemployment rate at 7.9 per cent, while Jammu Kashmir has an unemployment rate of 25.0 per cent for the month of March compared to 13.2 per cent in the month of February.
The CMIE data reveals that the unemployment rate is the highest in the region since November 2016. In November 2016 the unemployment rate was 29.9 per cent.
The rising rate of unemployment rate in Jammu Kashmir continues to be a major issue for the youth of the region.
Directorate of Employment in 2021 witnessed three lakh registrations by postgraduates and PhD degree holders.
In the same year, Jammu Kashmir Service Selection Board advertised 8000 class IV posts, and more than 5.4 lakh aspirants applied for these posts.
Official figures suggest that the JK administration has advertised around 10,000 jobs, of which 8,575 were Class IV posts ever since the new domicile laws were introduced in May 2020, which allow non-residents to apply.
The Government of India’s Ministry of Statistics and Programme implementation in its latest Periodic Labour Force Survey stated that unemployment figures among educated youth in Jammu Kashmir have reached a staggering 46.3 per cent.
The report “Periodic Labour Force Survey April-June 2021” released by the Ministry of Statistics and Programme Implementation last month states that Jammu Kashmir’s urban unemployment rate for the age group 15-29 age has reached 46.3 per cent from the 44.1 per cent in comparison to the previous quarter.