Unemployment in India: There is a constant hue and cry about unemployment in the country. However, government figures are telling a different story. According to a report released by the government on Monday, the unemployment rate has stabilized in the last one year. It has remained at 3.2 percent between July 2023 and June 2024. After this annual report, the government can now breathe a sigh of relief. People above 15 years of age are included in this report.
The annual report of the Labor Force Survey was released.
According to the annual report of the Labor Force Survey, the unemployment rate among men has decreased marginally from 3.3 percent during July 2022 to June 2023 to 3.2 percent during July 2023 to June 2024. On the other hand, it has increased among women and it has increased from 2.9 percent to 3.2 percent. The Labor Force Participation Rate (LFPR) was 60.1 percent during July 2023 to June 2024. This is more than last year’s 57.9 percent. LFPR has been 78.8 percent among men and 41.7 percent among women.
The LFPR (Labour Force Participation Rate) looks at those people in the population who are capable of working or are working. The LFPR for women above 15 years of age has increased from 37.0 percent during July 2022 to June 2023 to 41.7 percent during July 2023 to June 2024. The LFPR for men of the same age group has increased from 78.5 percent to 78.8 percent.
NSSO started the survey from 2017
The Worker Population Ratio stood at 58.2 percent during July 2023 to June 2024, which was 56.0 percent a year ago. This figure is 76.3 percent among men and 40.3 percent among women. The WPR data counts those people out of the total population who are working. The National Sample Survey Office started the Periodic Labour Force Survey in April 2017. Its main objective is to show the status of employment and unemployment in the country.
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