look news india
PLFS for Urban Unemployment: The unemployment rate in the country has seen a slight decline on an annual basis, while a slight increase has been seen on a quarterly basis. The unemployment rate in the third quarter of 2023-24 was 6.5 percent. Which has increased by 0.2 percent to 6.7 percent in the fourth quarter. These data have been released in the Periodic Labor Force Survey (PLFS).
improved in one year
Employment in urban areas has increased in one year. The unemployment rate in the fourth quarter of 2022-23 was 6.8 percent. Which has come down to 6.7 percent in the fourth quarter of 2023-24. Which shows an improvement of 0.1 percent in the last one year.
Women got the most jobs
The status of women has improved in terms of employment. Last year the unemployment rate among women was 9.2 percent. Which has come down to 8.5 percent in the March quarter. The male unemployment rate increased to 6.1 percent in the fourth quarter of 2023-24, from 6 percent last year.
Labor force participation increased
The labor force participation rate has increased in the last year. In January-March, 2023 it was 48.5 percent. Which was 50.2 percent a year ago. This participation increased in the age group of 15 years and above. In which the number of men has increased from 73.5 percent to 74.4 percent and the participation of women has increased from 22.7 percent to 25.6 percent.
What is labor force participation?
Labor force participation includes the population aged 15 to 64 years. Who are eligible for employment. PLFS was launched by the National Sample Survey Office (NSSO) in 2017.