Unemployment rate falls to 6.7% in quarter ending March | Image:Unemployment rate falls
More jobs led by manufacturing: The unemployment rate for the country’s population 15-year-old and above in urban pockets fell to 6.7 per cent in the January- March period from 6.8 per cent a year ago, as per the National Sample Survey Survey (NSSO).
The joblessness or rate of unemployment is defined as the percentage of unemployed people in the labour force. The country’s unemployment rate in the March quarter of FY23 was 6.8 per cent, while it was 6.6 per cent in April-June as well as in the third quarter (July-September 2023) of FY2023-24.
The unemployment rate was 6.5 per cent in October-December 2023 and for people aged 15 years and above in January-March 2024, it was 6.7 per cent in urban areas, the 22nd Periodic Labour Force Survey (PLFS) showed. It also showed that the unemployment rate among females (aged 15 years and above) in urban areas declined to 8.5 per cent in January-March 2024 from 9.2 per cent in the same quarter a year ago.
It was 9.1 per cent in April-June 2023, 8.6 per cent in July-September 2023, and 8.6 per cent in October-December 2023.
Urban employment rate
Among the male population, the unemployment rate in urban areas saw a rise to 6.1 per cent in January-March 2024 compared to 6 per cent in the year-ago period. It was 5.9 per cent in April-June 2023, 6 per cent in July-September 2023, and 5.8 per cent in October-December 2023.
Labour force participation rate in Current Weekly Status (CWS) in urban areas for people aged 15 years and above increased to 50.2 per cent in the January-March 2024, from 48.5 per cent in the same period a year ago. It was 48.8 per cent in April-June 2023, 49.3 per cent in July-September 2023 and 49.2 per cent in October-December 2023.
Labour force refers to the part of the population, which supplies or offers to supply labour for pursuing economic activities for the production of goods and services and, therefore, includes both employed and unemployed persons.
(With PTI inputs)
