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Unemployment Rate Decreased 6.7% In Jan-March 2024 (YoY) In India: Govt Data

According to the quarterly bulletin of the Periodic Labour Force Survey covering January to March 2024, the unemployment rate among individuals aged 15 and above in urban areas has dropped to 6.7 percent compared to the previous quarter. During the same period last year, the unemployment rate stood at 6.8 percent. The latest data from […]

According to the quarterly bulletin of the Periodic Labour Force Survey covering January to March 2024, the unemployment rate among individuals aged 15 and above in urban areas has dropped to 6.7 percent compared to the previous quarter.

During the same period last year, the unemployment rate stood at 6.8 percent. The latest data from the Periodic Labour Force Survey reveals notable trends. Specifically, the female unemployment rate has declined from 9.2 percent in January-March of the previous year to 8.5 percent in January-March 2024. Moreover, the quarterly figures indicate a rise in both the Labour Force Participation Rate (LFPR) and Worker Population Ratio (WPR), alongside a decrease in Unemployment Rates (UR) across urban areas.

As per the Ministry of Statistics & Programme Implementation's data, the Labour Force Participation Rate in urban areas has demonstrated an upward trajectory, rising from 48.5 percent to 50.2 percent during the January to March 2024 period compared to the same period last year.

During that timeframe, the Female Labour Force Participation Rate in urban areas saw a rise from 22.7 percent to 25.6 percent. Additionally, the survey indicates an upward trend in the worker population ratio for individuals aged 15 years and above, increasing from 45.2 percent to 46.9 percent. Furthermore, the female worker population ratio in urban areas also increased from 20.6 percent to 23.4 percent over the survey period.

Finance Minister Nirmala Sitharaman noted in a social media post that improved access to essential services like piped drinking water through the Jal Jeevan Mission, clean cooking fuel from Ujjwala (eliminating the need for collecting or burning firewood), and better sanitation is liberating women from domestic responsibilities.

This shift enables them to pursue work and employment opportunities. She also mentioned that the Bulletin's data aligns with other key indicators, indicating a strong performance in the Indian economy.

Additionally, the data emphasizes that the Worker Population Ratio (WPR) for individuals aged 15 years and above has risen from 45.2 percent in January-March 2023 to 46.9 percent in January-March 2024.

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Decrease In Rate Of UnemploymentJan-March 2024 (YoY)Periodic Labour Force SurveyTDGIndia Herald