Unemployment Rate Drops to 6.8% – PC : MRP Graphics
Unemployment Rate Drops to 6.8%: According to a government survey, the percentage of people aged 15 years and older who were unemployed in urban areas decreased to 6.8% during January-March 2023, compared to 8.2% a year ago.
The National Sample Survey Organization (NSSO) survey indicates that the unemployment rate among individuals aged 15 and older in cities declined from 8.2% to 6.8% compared to the previous year. Unemployment is defined as the absence of a job despite being capable of finding one. The strict COVID-related regulations in the country led to a significant number of individuals being out of work in early 2022.
During the periods of July-September 2022 and October-December 2022, the unemployment rate stood at 7.2%. It was 7.6% between April and June 2022, as reported by the 18th Periodic Labor Force Survey (PLFS) for those aged 15 and above in urban areas.
The unemployment rate for the January-March 2022 quarter was 8.2%. According to the survey, the unemployment rate for women aged 15 and above in urban areas decreased to 9.2% from 10.1% in the corresponding quarter of the previous year. It was 9.6% between October and December 2022, 9.4% between July and September 2022, and 9.5% between April and June 2022.
For men in urban areas, the unemployment rate dropped to 6% in the January-March 2023 quarter, down from 7.7% in the same quarter of the previous year. It was 6.5% between October and December 2022, 6.6% between July and September 2022, and 7.1% between April and June 2022.
The proportion of individuals aged 15 and above who were part of the labor force and actively engaged in economic activities in urban areas increased to 48.5% in the January-March 2023 quarter, up from 47.3% in the previous year. It was 48.2% from October to December 2022, 47.9% from July to September 2022, and 47.5% from April to June 2022. The term “labor force” refers to the percentage of the population that is either employed or actively seeking employment.
The National Sample Survey Organization (NSSO) launched the Periodic Labor Force Survey (PLFS) in April 2017. Based on the PLFS, a quarterly report is released that provides estimates of various labor force indicators, such as the unemployment rate, worker population ratio, labor force participation rate, distribution of employees by job status, and industry of work in the Current Weekly Status (CWS).
(Written By: Avantika Rana)
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