Impact of Unemployment on Engineering Graduates in Recession

Abstract

Today, unemployment is up, jobs are scarce, and layoffs have become common across the organizations. Engineering education is a process of developing techno human resources, which are to be used later as input to industry which in turn produces goods and services for the societal use. Having considered the current situation of the engineering educational system and the quality of all its individual components it can be noticed that the awareness of the importance of education as a foundation for the growth and development of the country, such as India, is not strong enough. Engineering graduates passing out from educational institutions have to fulfil modern and high standard requirements that are needed by industry. In today's arena the most common word we come across is recession. Recession leads to a decreased demand for goods and services, which in turn leads to a decrease in production, lay-offs and rise in unemployment. The present paper projects the impact of unemployment on engineering graduates at the time of recession. It also presents a case study based on the survey statistics conducted by the Department of Labour, New Zealand to develop the SoWL.