Job Crisis India: A shocking report has come out about the job crisis in India. The report said that about 69 percent of jobs are at risk, mainly due to automation. At this time, the nation’s relatively young labor force is expected to grow by 160 million during the following 20 years.
shocking report
The ‘Future of Jobs Forecast’ report in its report states that the country’s main priority will be to create jobs to accommodate new workers entering the workforce to reach a working population of 1.1 billion by 2040. India’s labor force, according to analyst Michael O’Grady, is youthful. , with an average age of 38 years and its working population will increase to 160 million over the next 20 years. In addition, India’s labor force participation rate has come down to just 41 percent.
Jobs at risk because of automation
The report said working populations in Asia Pacific’s five largest economies – India, China, South Korea, Australia, and Japan – are at greater risk of automation than those in Europe and North America. Automation is expected to create 63 million jobs by 2040. More than 247 million jobs are expected to be at risk in industries susceptible to automation, such as construction and agriculture.
The crisis in China and Japan also deepened
The report says that by 2040, China’s working population will see a decline of 11 percent, and automation will lead to the loss of 7 percent of jobs. In Japan, fewer people will be employed between 2020 and 2040, a 19% decline. It is projected to decrease by about a third by 2050.
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