Unemployment Rate In Urban Areas Drops To 6.5 Per Cent From from 7.2 Per Cent In Q3

Spread the love

The unemployment rate in urban areas for individuals aged 15 years and above dropped to 6.5 per cent in the third quarter (Q3) of 2023 (October–December), down from 7.2 per cent during the same period the previous year. According to recent statistics released by the Ministry of Statistics and Programme Implementation (MoSPI on Monday, the unemployment rate among females decreased from 9.6 per cent to 8.6 per cent in Q3 of the current year.

The data also indicates a positive trend in the labour force participation rate (LFPR) in urban regions, which climbed from 48.2 per cent in Q3 of 2022 to 49.9 per cent in Q3 of 2023 for individuals aged 15 years and older. In parallel, the female LFPR rose from 22.3 per cent to 25 per cent during the same period, indicating a general uptick in LFPR.

ALSO READ | Retail Inflation Moderates To 5.10 Per Cent In January, Lowest In Three Months

Furthermore, the worker-population ratio (WPR) demonstrated an upward trajectory. In urban areas, the WPR increased from 44.7 per cent in October–December 2022 to 46.6 per cent in October–December 2023 for individuals aged 15 years and above. Specifically, for males, the WPR increased from 68.6 per cent to 69.8 per cent, while for females, it rose from 20.2 per cent to 22.9 per cent during this timeframe.

During the April–June 2023 period, the unemployment rate in urban areas declined to 6.6 per cent from 7.6 per cent compared to the same period the previous year. The spike in joblessness during April–June 2022 was largely attributed to the profound impact of Covid-related restrictions across the country.

As per NSO data, the fieldwork for collection of information in respect of all the samples allotted for the period October-December, 2023, was completed timely for the first visit as well as revisit samples. At the all-India level, in the urban areas, a total number of 5,697 FSUs (UFS blocks) have been surveyed during the quarter October– December 2023. The number of urban households surveyed was 44,544 and number of persons surveyed was 1,69,209 in urban areas.

ALSO READ | India’s Industrial Production Climbs 3.8 Per Cent In December: Govt

Source link

Please follow and like us:

Leave a Reply

Your email address will not be published. Required fields are marked *