With 23.9%, Jammu Kashmir ranks third in the Unemployment charts

From 22.4 per cent in October, The unemployment rate in Jammu Kashmir has grown to 23.9 per cent in the month of November, which is the third highest in states and UTs across India.

Centre for Monitoring Indian Economy (CMIE) has pegged Jammu Kashmir’s employment rate at 23.9 percent marking a spike of over 1.5 per cent against the month of October when the Unemployment rate had gone up to 22.4 per cent.

The monthly figures of the unemployment rate maintained by CMIE since 2016 show that in January 2016 the unemployment rate stood at 12.3 percent. It reached a high of 29.6 percent in November 2016, however, after the abrogation of Article 370, the unemployment rate has gone up considerably.

In March 2022, the rate went up to 25.0 percent, which was the second highest since November 2016.

Unemployment has been on a rise since the abrogation of Article 370, as per experts. In less than a month after abrogation, the data reveals, the unemployment in Jammu Kashmir showed a spike of nearly 6 percent when it rose from 16 to 22 percent.

During the lockdown post-Abrogation, businesses in the valley suffered losses worth Rs 18,000 crore from August 5, 2019, to January 2020.

Kashmir Chamber of Commerce and Industries (KCCI) report says at least 5000 salesmen in the tourism and mobile services business that includes some 2000 shops in the commercial hub of Lal Chowk, and its adjoining markets were not paid salaries for the months of August, September, and October while 4.96 lakh people lost their jobs.

With the rising rate of unemployment rate in Jammu Kashmir, several scholars have taken to alternative forms of employment. Recently The Kashmiriyat reported that two scholars, one Ph.D., and one M. Phil had opened a tea stall to earn their livelihood.

The Jammu Kashmir admin maintains that it is employing youth, however, the figures released by CMIE show an upward trend of unemployment in the region.

Directorate of Employment in 2021 witnessed three lakh registrations by postgraduates and PhD degree holders for jobs. In the same year, Jammu Kashmir Service Selection Board advertised 8000 class IV posts, and more than 5.4 lakh aspirants applied for these posts.

Official figures suggest that the JK administration has advertised around 10,000 jobs, of which 8,575 were Class IV posts ever since the new domicile laws were introduced in May 2020, which allow non-residents to apply.