Unemployment problem

it's me

2 Sept 202406:10

Summary

TLDRThe video script addresses the alarming unemployment rate in India, highlighting the plight of the youth, particularly those under 25 years old. It discusses the frustration of educated individuals, including engineers and MBA graduates, who struggle to find jobs commensurate with their qualifications. The script also touches on the impact of automation and AI on job markets, suggesting that machines are poised to replace human labor in various sectors. It ends with a call to action, urging viewers to adapt and develop skills that machines cannot replicate, emphasizing the need for innovation and entrepreneurship.

Takeaways

📉 The unemployment rate has risen, with the latest survey indicating a high of 6.1%.
🌐 Over 50% of the population in the country is under 25 years old, which means a significant portion is in their most productive age group.
😓 Many young people are facing the biggest tension of finding jobs, with a common question being about job availability.
🚂 There have been incidents of young people blocking railway tracks due to frustration over joblessness after investing in education.
🏢 The script suggests that the government's policies and the education system are often blamed for the employment crisis.
📚 Despite having degrees, many educated individuals are struggling to find jobs, leading to a sense of wasted qualifications.
📈 There's a claim that the current job situation is the worst in the past 45 years, with a lack of growth possible without jobs and income.
🤖 The advent of AI and automation is predicted to eliminate many jobs, making human interaction cheaper and more efficient through technology.
🏭 Many people are not working in factories and are struggling, indicating a larger issue with employment in the country.
💡 The script encourages the audience to be smart and adapt to changes, suggesting that developing new skills is crucial for the future job market.

Q & A

What is the current unemployment rate mentioned in the script?
-The script mentions that the unemployment rate has risen to 6.1% according to the latest survey.
How does the script describe the demographic of India in terms of age?
-The script states that over 50% of the population, which is more than half a billion people, are below the age of 25, indicating a young demographic.
What is the main concern of the 70 crore young people in India according to the script?
-The primary concern for the 70 crore young people in India, as mentioned in the script, is joblessness.
What recent incident is highlighted in the script to illustrate the job crisis in India?
-The script refers to an incident where, after four years, disgruntled youth, who had prepared by spending time and money to earn degrees, jammed railway tracks due to lack of job opportunities in the railways.
What is the claim made by the National Sample Survey Office (NSSO) in the script?
-The script claims that according to a leaked survey by the NSSO, the current employment situation in India is the worst in 45 years.
How does the script comment on the education system's role in the unemployment crisis?
-The script suggests that there are flaws in the education system and government policies, which could be improved to address the unemployment issue.
What example is given in the script to show the mismatch between education and job opportunities?
-The script gives an example of engineers and MBA graduates applying for sweeper jobs, indicating a significant mismatch between qualifications and job opportunities.
What is the script's perspective on the future of jobs due to advancements in AI and automation?
-The script suggests that artificial intelligence and automation will lead to the elimination of many jobs, making it cheaper for companies to use chatbots and automated systems instead of human labor.
What advice does the script offer to the youth regarding the changing job market?
-The script advises the youth to be smart and not to fear change, but to adapt by developing skills that machines cannot replicate.
How does the script describe the current state of employment for engineers in India?
-The script states that a significant number of engineers in India are unemployed, with many not even fitting for jobs due to a lack of demand and the impact of automation.
What is the script's final message to the audience regarding employment and personal responsibility?
-The script concludes by encouraging the audience to take responsibility for their own lives, suggesting that if they cannot find their dream job, they should consider creating their own opportunities.

Outlines

00:00

📉 Unemployment Crisis in India

The paragraph discusses the alarming unemployment rate in India, which has not been this high in the past 45 years. According to a recent survey, the unemployment rate stands at 6.1%. The speaker highlights the demographic challenge with over 50% of the population being under 25 years old, and the majority of them being in their most productive age. The youth's primary concern is employment, and the lack of job opportunities has led to frustration. The speaker mentions the case of young people who have invested in education but are left without jobs, blaming the government, education system, and policies. The paragraph also points out the irony of India being a developing country with a significant number of educated individuals struggling to find jobs, leading to a situation where engineers and MBA graduates are applying for jobs as sweepers. The speaker emphasizes the need for the government to improve policies and for individuals to take responsibility for their future.

05:02

📱 The Impact of Technology on Jobs

This paragraph explores how technology has disrupted job markets and created new opportunities. It uses the example of the cyber café business, which flourished until smartphones became ubiquitous, leading to a decline in the need for such services. The speaker suggests that with the advent of smartphones, new businesses like mobile covers and accessories have emerged, indicating that technology brings both the loss and creation of jobs. The paragraph emphasizes the importance of adapting to technological changes and developing skills that machines cannot replicate. It encourages individuals to be innovative and to prepare for a future where certain jobs may become obsolete, advising them to create their opportunities if traditional paths are not available.

Mindmap

Keywords

💡Unemployment Rate

The unemployment rate refers to the percentage of the total workforce that is jobless and actively seeking employment. In the context of the video, it highlights a significant social issue where despite efforts, the rate has not seen a considerable decrease in 45 years. The script mentions a recent survey indicating a high unemployment rate, emphasizing the urgency of job creation and the impact on the country's youth.

💡Young Population

The young population refers to individuals who are in their most productive age group, typically between 15 and 25 years old. The video script points out that a large portion of the country's population falls into this category, with 70 million young people who are in need of employment opportunities. This demographic is crucial for economic growth and social stability, and the video underscores the challenge of providing jobs to this segment.

💡Education System

The education system encompasses the institutions, structures, and processes through which society provides learning experiences to its members. The script criticizes the current education system for not adequately preparing students for the job market, leading to a mismatch between the skills learned and the skills required for available jobs. It suggests that improvements in the education system are necessary to address the unemployment issue.

💡Government Policies

Government policies refer to the decisions and actions taken by the government to manage the country's affairs and achieve specific goals. The video discusses how government policies, particularly those related to job creation and education, have been insufficient in addressing the unemployment crisis. It calls for more effective policies to improve the situation.

💡Job Market

The job market is the platform where employers and job seekers interact to fill job vacancies. The script describes the job market as being in a poor state, with many young people struggling to find employment despite having qualifications. It uses examples such as engineers applying for sweeper jobs and the high competition for low-skilled positions to illustrate the challenges faced by job seekers.

💡Automation

Automation refers to the use of technology to perform tasks that would otherwise be done by humans. The video discusses the impact of automation on the job market, suggesting that it could lead to the elimination of many jobs, particularly in customer service and manufacturing. It raises concerns about the future of employment as machines and artificial intelligence become more capable.

💡Economic Growth

Economic growth is the increase in the production of goods and services by an economy over a period of time. The script implies that without job creation and economic growth, the development of a country and the well-being of its citizens are at risk. It suggests that job creation is essential for both individual prosperity and national economic health.

💡Skill Development

Skill development refers to the process of acquiring new skills and improving existing ones to enhance employability and productivity. The video emphasizes the need for individuals to develop skills that machines cannot replicate, such as creativity, critical thinking, and emotional intelligence. It suggests that focusing on skill development is crucial for adapting to the changing job market.

💡Entrepreneurship

Entrepreneurship is the process of designing, launching, and running a new business. The video encourages entrepreneurship as a solution to unemployment, suggesting that individuals should consider starting their own businesses if traditional job opportunities are scarce. It implies that entrepreneurship can create jobs and drive economic growth.

💡Responsibility

Responsibility in the context of the video refers to the individual and collective duty to address societal issues like unemployment. It suggests that while the government and other institutions have a role to play, individuals also bear responsibility for their own employment situation. The video calls for a sense of personal responsibility in finding solutions to unemployment.

💡Adaptability

Adaptability is the ability to adjust and respond effectively to changes in the environment. The video stresses the importance of being adaptable in the face of technological advancements and economic shifts. It suggests that individuals must be willing to learn new skills and change their career paths as needed to remain employable.

Highlights

Unemployment rate has not been this bad in 45 years according to the latest survey.

Over 50% of the population, which is half the population, is below the age of 25, indicating a large youth demographic.

70 crore (700 million) young people are in their most productive age, highlighting a significant portion of the population.

A common concern among the youth is the lack of job opportunities, with many blaming the government, education system, and policies.

A claim from the National Sample Survey Office suggests the current job situation is the worst in 45 years.

Many young people are struggling to find jobs, even with degrees like engineering and MBA.

A stark example is the application of thousands of engineers for 14 sweeper vacancies in Tamil Nadu.

There is a significant number of unemployed engineers, with 80% not being able to find jobs in their field.

A concerning trend is the high number of graduates applying for jobs traditionally not requiring a degree, such as sweepers.

A large number of graduates are unable to recover their education loans due to lack of jobs.

In 2017, 9100 out of 17 AIIMS graduates did not get campus placements, indicating a lack of opportunities in the medical field as well.

The year 2019 is noted for the highest unemployment rate in the last 45 years, according to the data.

Artificial Intelligence and automation are predicted to eliminate many jobs, including in customer service and factories.

There is a looming future where machines will perform most tasks faster and with more precision than humans.

The importance of developing skills that machines cannot do is emphasized, such as creativity and critical thinking.

The necessity to adapt and be responsible for one's own career path is highlighted, rather than relying solely on job availability.

Encouragement to be innovative and find new ways to generate income, as traditional jobs are becoming scarce.