India’s Urban Unemployment Rate Declines to 6.7% in March Quarter

• The 22nd Periodic Labour Force Survey (PLFS) conducted by the National Sample Survey Office (NSSO) revealed that the unemployment rate among individuals aged 15 years and above in urban areas of India decreased to 6.7% in the January-March 2024 period.
• The survey offers insights into various labor force indicators, including unemployment rate, worker population ratio (WPR), and labor force participation rate (LFPR) based on the Current Weekly Status (CWS) approach.
• The unemployment rate for individuals aged 15 years and above in urban areas saw a slight decline to 6.7% in January-March 2024 from 6.8% a year earlier.
• Among females aged 15 years and above, the unemployment rate dropped to 8.5% in January-March 2024 compared to 9.2% in the same quarter of the previous year.
• Conversely, among males, the unemployment rate increased marginally to 6.1% in January-March 2024, up from 6% in the corresponding period of the previous year.

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Published date : 16 May 2024 05:26PM