CITU, AITUC and BMS activisists led by their respective leaders took out the rally from the railway station to the College Square where they held a meeting.
They also demanded minimum wage of at least Rs 10,000 for each worker per month and protested against privatization of public sectors and FDI in multi-brand retail.
More than 50 activists of various trade unions courted arrest here after staging a road blockade at the College Square and were later released on personal remand bonds, police said.
Addressing the meeting, Odisha unit CITU vice-president Subash Singh said contractual appointment in public sectors would ruin the future of young and bright students.
He also demanded immediate stop to disinvestment in public sectors like Nalco.
AITUC leader Kishore Jena crticised FDI in retail and said about 20 crore people engaged in this sector would be deprived of their livelihood.
BMS general secretary Basant Sahu held both the Centre and the state responsible for the plight of the poor in the state.