Determinants of Private Demand - Waiting-Time for Employment
‘Waiting time’ for employment is another important factor. The waiting time varies from course to course. For instance, it is lowest for medical and para-medical courses while it is highest for Arts graduates. It is common practice to relate ‘employment’ i.e. number of persons employed, to the time period for getting ‘first employment’.
Thus, if the employment rate is 50 per cent for a course with a waiting period of ‘six months or less’, it means that out of the total numbers qualified and interested in taking up job, half of the total number could secure jobs within the first six months of qualifying the course. Evidently, with increased waiting period, the number of employed should go up.