Mechanical Engineering Association - MEC

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27/10/2024

One of the primary concerns about AI is its potential to automate jobs, leading to widespread unemployment. Industries such as manufacturing, transportation, and retail are particularly vulnerable to automation. For instance, autonomous vehicles could displace millions of truck drivers, while AI-driven robots in manufacturing could replace human labor in assembly lines. Similarly, AI-powered customer service bots and checkout systems could reduce the need for human employees in retail.

27/10/2024

Artificial Intelligence (AI) has rapidly evolved, becoming an integral part of various industries, revolutionizing the way we live and work. However, the increasing integration of AI has sparked debates about its impact on employment. Is AI a threat, replacing jobs and leaving a trail of unemployment, or is it a catalyst for new opportunities, creating jobs we never imagined?

27/10/2024

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27/10/2024

Artificial intelligence and unemployment in high-tech developed countries: New insights from dynamic panel data model

27/10/2024

According to the Periodic Labour Force Survey (PLFS) released by the Ministry of Statistics and Programme Implementation, India's unemployment rate for the period July 2023 to June 2024 is 3.2%. This is the same as the rate for the previous year, 2022-23.

Here are some other unemployment rate details for India:
Rural areas
The unemployment rate in rural areas increased from 2.4% in 2022-23 to 2.5% in 2023-24.
Urban areas
The unemployment rate in urban areas decreased from 5.4% in 2022-23 to 5.1% in 2023-24.
Female labor force participation
This increased to a seven-year high of 41.7% in 2023-24, up from 37% in the previous year.
Male labor force participation
This remained at a seven-year high of 78.8% in 2023-24.

The unemployment rate is the percentage of people in the labor force who are unemployed. It is calculated for people aged 15 and above.

13/08/2023
15/08/2022

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