India's Unemployment Rate Hits Record Low 2% Among G20 Nations

ECONOMY
Whalesbook Logo
AuthorAnanya Iyer|Published at:
India's Unemployment Rate Hits Record Low 2% Among G20 Nations
Overview

Union Minister Dr. Mansukh Mandaviya announced India's unemployment rate has fallen to 2%, the lowest among G20 countries, citing the World Economic Forum's 2025 report. This achievement is attributed to robust economic growth and proactive government employment generation schemes. MoUs with Mentor Together and Quikr were signed to boost youth employability on the National Career Service portal, which now hosts over 44 lakh active vacancies.

India Secures Lowest G20 Unemployment Rate at 2%

New Delhi – India's unemployment rate has reached a historic low of 2 percent, positioning the nation at the forefront among G20 economies, according to Union Minister for Labour & Employment, Dr. Mansukh Mandaviya. He cited the World Economic Forum's 'The Future of Jobs Report 2025' to highlight this significant economic milestone. The minister emphasized that employment generation across various sectors is keeping pace with India's rapid economic expansion, supported by strategic government initiatives.

Government Initiatives Drive Job Creation

Dr. Mandaviya spoke at an event in New Delhi where the Ministry of Labour & Employment formalized Memorandums of Understanding with 'Mentor Together' and 'Quikr'. These partnerships aim to enhance employment opportunities and bolster youth employability through the National Career Service (NCS) Portal. The NCS platform currently serves as a critical hub, registering approximately 52 lakh employers and over 5.79 crore job seekers, with more than 7.22 crore vacancies mobilized.

NCS Portal Evolves as a One-Stop Solution

The NCS portal is no longer just a listing service; it is transforming into a comprehensive platform for all employment-related needs. Currently, over 44 lakh active vacancies are advertised on the portal. These efforts build on previous collaborations, with the Ministry having signed MoUs with ten major organizations, including Amazon and Swiggy, over the past year. These existing partnerships have already facilitated the mobilization of nearly five lakh vacancies.

Focus on Youth Employment and Entrepreneurship

The government is placing a renewed emphasis on youth development. Prime Minister Narendra Modi announced a substantial package of five flagship schemes totaling ₹2 lakh crore to support employment, skilling, and opportunities for 4.1 crore young people. A cornerstone of this initiative is the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY), allocated ₹99,446 crore, designed to stimulate the creation of over 3.5 crore jobs within two years, with a specific focus on onboarding 1.92 crore first-time job entrants.

Promoting Self-Reliance

Beyond direct job creation, the government is fostering entrepreneurship and self-employment. Transformative schemes like MUDRA and PM SVANidhi are actively promoted to support small businesses and street vendors. This multi-pronged approach, combining large-scale job creation with support for entrepreneurship, aims to ensure sustained economic growth and widespread employment opportunities. The remarks were made on January 16, 2026.

Disclaimer:This content is for educational and informational purposes only and does not constitute investment, financial, or trading advice, nor a recommendation to buy or sell any securities. Readers should consult a SEBI-registered advisor before making investment decisions, as markets involve risk and past performance does not guarantee future results. The publisher and authors accept no liability for any losses. Some content may be AI-generated and may contain errors; accuracy and completeness are not guaranteed. Views expressed do not reflect the publication’s editorial stance.