Is it UNEMPLOYMENT or UNEMPLOYABILITY - Startup | Startup & Govt Career Info
The main purpose of this blog is to provide information about jobs in startups as well as in government agencies. The unemployment rate in India is about 7.6% now which is about to increase to 9% - 10% after the Corona Virus effect on Economy.
As you know Indian Economy was started declining in 2019 and in 2020 due to coronavirus, it is about to decline to the level that GDP will be at 2% - 2.5%. In this economic crisis, many startups and well-established companies may file for bankruptcy. The startups which call themselves unicorns( startups with more than $1 billion) and are in losses are the first ones to layoff employees as the major source of their funding (SoftBank) is also making losses.
As you know Indian Economy was started declining in 2019 and in 2020 due to coronavirus, it is about to decline to the level that GDP will be at 2% - 2.5%. In this economic crisis, many startups and well-established companies may file for bankruptcy. The startups which call themselves unicorns( startups with more than $1 billion) and are in losses are the first ones to layoff employees as the major source of their funding (SoftBank) is also making losses.
The reason for huge unemployment in India is some incorrect Government policies and lack of skills in youth.
Unemployment or Unemployability
In India Engineers, Doctors, and MBAs are most unemployed. According to the National Employability 2016 report lack of skills is the main reason for unemployment.
Engineering:
- In India, only 5.55% of mechanical engineers are skilled.
- 80% of engineers are unemployable.
- 95% of IT/ Computer engineers didn't know the correct logic.
- Only 1.4% of engineers can code properly.
MBA:
- Only 7% of MBA graduates are employable.
- This data excludes top MBA institutes like IIM.
Doctors:
- 57% of Allopathic Doctors do not have proper medical qualifications.
Reports by World Bank claim 69% of jobs will be Automated.
Solution:
The only solution is to UPGRADE your skills according to the dynamic job market. You need to understand that your traditional degree and marks will not get you a job.
There are many opportunities in Data Science and Cyber Security field. There will be a requirement of 2 lakh data analytics in India in 2020. If we talk about the Cyber Security field, there will be a requirement of 18 lakh professionals in India.
To update yourself there are many institutes at your fingertips - thanks to the Internet - that you can use. If you don't want to spend money YouTube is the best teacher for you.
Use the available resources as these resources were never available to anyone in the past. So use your time & resources wisely for your sake.
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