OneIndia24News: Covid-19: Younger workforce in age group of 25-29 years lost highest number of jobs during the pandemic

Synopsis

CMIE data shows although overall job losses declined in July, they increased among people from 25 through 34 years of age with 0.98 million job losses on a base of 88 million jobs.

Younger workforce in the age group of 25-29 years has seen the highest number of job losses during the pandemic while fresh recruitments in this category is low, indicating lower demand for new labour and inability of the enterprises to hire and train fresh recruits during this time, the Centre for Monitoring Indian Economy said.

“Those in the age bracket 25-29 years account for 11% of all jobs but they accounted for 46% of all job losses while workers in the 20-24 years age group accounted for 35% of job losses till 2020 even when they account for less than 9% of total employment,” CMIE said in its weekly analysis of the labour market.

CMIE data shows although overall job losses declined in July, they increased among people from 25 through 34 years of age with 0.98 million job losses on a base of 88 million jobs.

According to CMIE, 121 million jobs were lost between April and July 2020. However, by the end of July job losses reduced significantly with 19.6 million job losses in the workforce of age less than 40 years as against 8.9 million jobs gained among those of 40 years or more along with gains in other age brackets. This resulted in net job loss at 11 million by the end of July 2020.

“Enterprises are expanding lesser than earlier and therefore are generating lesser demand for additional labour which is usually met by youngsters who join the labour force,” CMIE said, adding that the age profile of the workforce is shifting towards the relatively older workers which is weird and will have implications on future generations considering India has a young population.

As per the CMIE, the younger workforce in an enterprise is less experienced and therefore is more easily dispensable. “Moreover, during the lockdown enterprises cannot hire and train new recruits easily,” it said, adding this is a new constraint but a very serious constraint since it is now quite prolonged.

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5 Comments on this Story

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sanujit roy2 days ago

it would be more deep in the coming days as majority of the young force have skill gap along with little knowledge when AI is at the back

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Chandra Shekhar Sood3 days ago

Climate change is taking its toll.

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Mayank Damani5 days ago

I hope govt is seeing this data even after this they dont do anything then they are selfish govt..

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