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Unemployment Rate Reduced: There has been a decrease in the unemployment rate for a certain section in the country. India’s urban unemployment rate has come down to 6.8 per cent in the January-March quarter this year, according to data released by the Ministry of Statistics and Program Implementation on Monday. The unemployment rate among people aged 15 years and above in urban areas has come down to 6.8 per cent in the January-March quarter this year.
Unemployment rate came down from 8.2 percent to 6.8 percent
According to data from the National Sample Survey Organization Office (NSSO), it was 8.2 per cent in the same quarter a year ago. Thus, the unemployment rate in the cities of the country in January-March has been the lowest since the existence of this survey in 2018-19.
The highest unemployment rate was in the January-March quarter last year
The unemployment rate was the highest in the January-March quarter last year and the main reason for this was the Kovid-related restrictions in the country, which had an impact on industrial activities to general business activity and reduced the number of jobs. According to the survey, the unemployment rate was 7.2 per cent in July-September and October-December last year, while it stood at 7.6 per cent in April-June 2022.
The data revealed in the 18th labor force survey
According to the 18th Periodic Labor Force Survey (PLFS), the unemployment rate among people aged 15 years and above in urban areas was 7.6 per cent in April-June 2022. The data shows that the unemployment rate among women (15 years and above) in urban areas came down to 9.2 per cent in January-March, 2023 from 10.1 per cent in the same quarter a year ago.
The unemployment rate among men also decreased in urban areas.
On the other hand, the unemployment rate in urban areas among men came down to 6 per cent in the first quarter this year, from 7.7 per cent in the January-March quarter of 2022 a year ago. If we look at the figures in this way, there has been a decrease in the unemployment rate of all classes, which can be said to be a good sign for the employment sector of the country.
How is labor force participation determined?
According to this survey, a person is considered employed if he/she has worked for at least one hour on any day during the seven days preceding the day of the survey. In January-March, India’s urban unemployment rate fell as well as the labor force participation rate rose to 48.5 percent from 48.2 percent in the previous quarter.
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