As per the Periodic Labour Force Survey, India’s unemployment rate for the quarter ended on June 30 declined from Q4 FY24 when the rate stood at 6.7 per cent.
This comes amid the ongoing debate over the state of employment in India and the government announcing programmes to cater the youth as part of its latest budget.
For males, the Unemployment Rate (UR) slightly decreased from 5.9 per cent in the previous year to 5.8 per cent, and for females, it marginally declined from 9.1 per cent to 9.0 per cent, as per the latest data.
Quarter-on-quarter, unemployment in males fell from 6.1 per cent to 5.8, while it rose from 8.5 per cent to 9 per cent in the females.
The survey shows an encouraging increase in the Labour Force Participation Rate (LFPR) in urban areas among individuals aged 15 years and above, rising from 48.8 per cent in Q1 FY24 to 50.1 per cent in Q1 of FY25. The LFPR for males increased from 73.5 per cent to 74.7 per cent and for females from 23.2 per cent to 25.2 per cent, marking an upward trend of participation across genders.Lastly, Worker Population Ratio (WPR) also improved, moving from 45.5 per cent in April – June 2023 to 46.8 per cent in April – June 2024. Specifically, the WPR for males increased from 69.2 per cent to 70.4 per cent, while for females, it rose from 21.1 per cent to 23.0 per cent, the survey findings showed.
Unemployment trends in last four quarters
From April to June 2023, the UR for males was 5.9 per cent, for females was 9.1 per cent, and overall was 6.6 per cent.
In the subsequent period from July to September 2023, the UR slightly increased to 6.0 per cent for males and decreased to 8.6 per cent for females, maintaining an overall rate of 6.6 per cent.
During October to December 2023, the UR for males decreased to 5.8 per cent, while it remained at 8.6 per cent for females, resulting in a slight decrease in the overall rate to 6.5 per cent.
From January to March 2024, the UR for males rose to 6.1 per cent, and for females, it was 8.5 per cent, with the overall rate increasing to 6.7 per cent.
In the latest period from April to June 2024, the UR for males was 5.8 per cent, for females was 9.0 per cent, and the overall rate was 6.6 per cent.
Content Source: economictimes.indiatimes.com