BUSINESS

India’s unemployment rate fell from January to March 2024 (YoY): official statistics

According to the Periodic Labour Force Survey quarterly report (January to March 2024), the unemployment rate for those aged 15 and over in metropolitan areas dropped to 6.7% during the most recent quarter.

In the same time frame the previous year, the unemployment rate was 6.8%. The report also showed that, from January to March of last year, the female jobless rate dropped to 8.5%, while the male unemployment rate remained at 9.2%.

The Periodic Labour Force Survey’s quarterly data, which was made public today, demonstrates a decline in urban unemployment rates (UR) and a rise in the worker population ratio (WPR) and labor force participation rate (LFPR).

The Ministry of Statistics & Program Implementation’s statistics indicates that, as compared to the same time in the previous year, the Labor Force Participation Rate in urban areas increased, rising from 48.5% to 50.2% between January and March 2024.

The percentage of women participating in the labor force in urban areas rose from 22.7% to 25.6% over the same time frame. According to the poll, the percentage of people over the age of 15 who are workers has increased, rising from 45.2% to 46.9%. In metropolitan regions, the percentage of female workers increases from 20.6% to 23.4% throughout the course of the study.

Women are finding more time to work and pursue career prospects due to greater availability to basic facilities like piped drinking water under the Jal Jeevan Mission, clean cooking fuel under Ujjwala (no need to gather or burn firewood), sanitation, etc. Finance Minister Nirmala Sitharaman said on social media, “The Bulletin data corroborates the other high-frequency indicators showing the robust performance of the Indian economy.”

The data also shows that, for those above the age of 15, the Worker Population Ratio (WPR) climbed from 45.2% in January–March 2023 to 46.9% in January–March 2024.

Related Articles

Back to top button