job seekers to the non- existent job market at a rate higher than its GDP growth.  Even at 8%+  sustained GDP growth, from 2003 - 2007, India couldn't do it.  At a sustained 15% growth which is not posssble, will not do it.  Now,  there are more people who was in the job market losing their jobs never mind the glorious of age demographic dividends ready to work but can't find jobs.

The only way to solve the underemployment problem is to change the formula to calculate employment rate. :)