If we look at the unemployment figures of all age groups, then its rate is currently 7.6%. This unemployment rate is the lowest in the last four years. This rate is calculated on the basis of current weekly status for people of all ages.
Decreased unemployment rate in the country (file photo)
The unemployment rate in the urban areas of the country is decreasing rapidly. It has been declining for four consecutive quarters. The lowest unemployment rate has been recorded in the April-June 2022 quarter. This has been told by the Periodic Labor Force Survey (PLFS). If we look at the unemployment figures of all age groups, then its rate is currently 7.6%. This unemployment rate is the lowest in the last four years. This rate is calculated on the basis of current weekly status for people of all ages. According to the data, the unemployment rate for men has been recorded at 7.1 percent and for women at 9.5 percent.
Last month, the Center for Monitoring Indian Economy (CAIE) had estimated the unemployment rate for July at 6.80 percent, compared to 7.8 percent in June. On the employment front, there is also a good thing that an increase has been registered in the Labor Force Participation Rate (LFPR) in the June quarter, which has increased from 47.3 percent in March to 47.5 percent in June. This means that there is already an increase in the work of the workers.
already improving employment
Along with this, there is already an increase in the work of women workers, which is shown by the figures of women’s LFPR. An increase of 0.5 percent has been registered in this. In January, this figure was 20.4%, which is an increase of 0.5 percent. The male FFPR has increased to 73.5% in the June quarter from 73.4% in March 2022. Similarly, an increase of 0.5 percent has been seen in the worker to population ratio (WPR). It was 43.4 percent in the March quarter, which has increased to 0.5 percent in June. The female WPR is 18.9%, the same male WPR has been recorded at 68.3%.
what do the figures say
The National Sample Survey Organization, also known as NSO, before the Periodic Labor Force Survey, ie PLFS, releases data on employment and unemployment rate. The NSO, which works under the Ministry for Statistics, releases employment and unemployment figures on 5 years. This data is released under the Socio-Economic Survey Program.
The country’s first computer-based survey was launched in April 2017 to assess the labor force share and employment status. In urban areas, its data is released every three months on the basis of Current Weekly Status (CWS). According to the NSO data, the unemployment rate was 9.8 percent in April-June 2018 while it came down to 7.6% in April-June 2022.