India’s unemployment rate lowest among G20 at 2%, says Mandaviya, citing WEF report

India’s unemployment rate is 2%, which is the lowest among the G20 nations, and employment generation has taken place across sectors in tandem with India’s rapid economic growth, Union Minister for Labour & Employment Dr. Mansukh Mandaviya said, quoting the World Economic Forum’s ‘The Future of Jobs Report 2025’.

The minister also underlined the enabling government schemes that have contributed towards the same.

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“The National Career Service (NCS) platform, with nearly 52 lakh registered employers, 5.79 crore job seekers and over 7.22 crore vacancies mobilized, is now evolving to offer not just job listings, but as a one-stop solution for all employment-related services,” the minister said.

“Currently, there are over 44 lakh active vacancies on the portal. Over the past year, the Ministry has signed MoUs with ten key organisations, including Amazon and Swiggy. These partnerships have already mobilized nearly five lakh vacancies,” he added.

Minister’s comments came while addressing the gathering at the signing of Memorandums of Understanding (MoU) between the Ministry of Labour & Employment and ‘Mentor Together’ and ‘Quikr’ for enhancing employment opportunities as well as youth employability on the National Career Service (NCS) Portal.

Welcoming the collaboration between the Ministry and the two organisations, Dr. Mandaviya said that these partnerships would make suitable employment opportunities as well as structured mentoring available to job-seekers, particularly in light of the Pradhan Mantri Viksit Bharat Rozgar Yojana coming into effect in August this year.

These collaborations, in turn, will benefit not only the youth, but the nation at large, he added. “It will ensure that the future of this country, and of its youth, is bright,” he stated.

He said PM Modi had announced a package of five flagship schemes with a total budget of Rs 2 lakh crore to support employment, skilling, and opportunities for 4.1 crore youth.

A key highlight of this package is the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY), with an allocation of Rs 99,446 crore, aimed at incentivising the creation of over 3.5 crore jobs in two years, of which 1.92 crore will benefit first-time entrants to the workforce.