look news india
Unemployment rate: The country has received good news on the employment front. Releasing the data on Friday, the National Statistical Office (NSO) said that the unemployment rate in the country fell to 6.6 percent during the April-June quarter. This figure was 6.7 percent in the same period a year ago. According to the data of the NSO's Periodic Labor Force Survey (PLFS), male unemployment has declined. However, the unemployment rate among women increased to 9 percent in the first quarter. This figure was 8.5 percent a year ago. This is a matter of concern for the government.
The unemployment rate among the youth has also come down
According to PLFS data, the unemployment rate among men fell from 6.1 percent to 5.8 percent during the April-June quarter. The survey showed that the unemployment rate of youth (15-29 years) also declined to 16.8 percent in the first quarter. It was 17 percent in the previous quarter. This figure is also important because youth of this age group are usually entering employment for the first time. This shows that the labor market is strengthening. During the current financial year, the youth unemployment rate has decreased and this figure has increased among young women.
The labor force participation rate has also improved
The labour force participation rate (LFPR), which reflects the status of people working and looking for jobs in cities, was 50.1 per cent during the first quarter of FY 2024-25. It was 50.2 per cent in the fourth quarter of FY 2023-24.
Men showed greater enthusiasm for work. Their LFPR rose to 74.7 per cent from 74.4 per cent in the previous quarter. However, women's LFPR fell to 25.2 per cent from 25.6 per cent in the previous quarter.
The share of self-employed people has decreased
The NSO survey showed that the share of self-employed people declined to 40 per cent from 40.5 per cent in the previous quarter. During the last quarter, the share of salaried workers and casual workers increased to 49 per cent and 11 per cent, respectively.
During this period, the share of women workers in regular jobs increased from 52.3 percent to 54 percent. The share of workers in the manufacturing sector also increased from 32 percent to 32.1 percent. NSO started the first computer-based survey in April 2017.
