Today, despite the increase in the rate of literacy, more unemployment has been observed in many countries. Which is an extremely serious problem for the youth’s future. Behind this, there are several bold factors.
Firstly, the demand and supply ratio between graduates’ numbers and the market’s job openings are not similar any more. Day by day, the number of passing out students is increasing; on the contrary, the number of vacancies for freshmen is static. For example, in my country, India, A decade ago, there were only 10–12 engineering colleges around Mumbai. But now there are nearly 35–40 government and private engineering colleges around Mumbai. The output of tech students has been doubled per year now. On the other hand, job openings for freshmen’s are merely increasing by 8 to 10 percent in a decade. Hence, this is the major reason for unemployment among highly qualified graduates.
Secondly, changing market demands are the major reason as well. Since the last few years, the start-up and entrepreneurship culture has been on the rise. They need employees with multiple qualities and skills. For instance, if a student gets a graduate degree from a tech college, he will only be able to solve tech problems. But on the other hand, start-ups want someone who can handle their technical issues and financial fields as well. Colleges and universities are not able to deliver both skills in one course. Therefore, people are not able to get a job despite their degrees and masters-level qualifications.
To conclude, I believe the job market will change from time to time according to its demands. In order to beat the market competition and get a job, a job seeker always tries to get other skills and qualifications as well, which will fit him for start-up jobs and cooperate industry as well.