Home NewsEconomy Rising Unemployment in Andhra Pradesh: What it indicates? What AP needs?

Rising Unemployment in Andhra Pradesh: What it indicates? What AP needs?

by Mukesh
681 views Amaravati

The world has suffered the heat of rising unemployment. Coronavirus pandemic and its devasting effects on life and livelihood have spared none. In Andhra Pradesh, the pandemic was a little before the incumbent Chief Minister Y.S. Jagan’s completion of first year in office. CMIE estimates indicate that unemployment was at its peak in April 2020. At around 20.5% it was close to the national rate of 23.5% in April. As for May 2020, the numbers stood at 17.5%. Neither of these numbers indicate a bright future for jobs in Andhra Pradesh.

While, the number did fall from 20.5% in April to 17.5% in May, 2020 there are lot of underlying trends that cannot be ignored. The worst to suffer are the youth. However, if all goes well the state’s youth might get some temporary respite but that would not discount other worrying factors such as unstable government regulation and limited investments. Jagan Mohan Reddy’s meagre financial assistance would do no good especially, if those numbers turn worse towards the end of Q2 of 2020-21.

AP’s economy is trembling and the blame to a great extent rests with those in power. Truth be told, AP needs to take up bold reforms by reinstating scrapped PPAs, cancelling all adverse government orders that scrapped land allotments and keep the spirit of vendetta aside to help the economy reach where it was at the end of 2018. The financial assistance to various sections of society might sustain demand for a short time but that would not be enough for unemployed youth. The youth is angry, they need jobs and jobs would only come in a regime that can be trusted not a vindictive one.

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