Unemployment Rate Remains Flat at 6.6% in June Quarter: Survey
The unemployment rate for people aged 15 years and above in urban areas remained flat at 6.6% in the April-June quarter, according to the National Sample Survey Office (NSSO). This rate was unchanged from the previous quarter, indicating a stable yet concerning level of joblessness.
The joblessness rate, which is defined as the percentage of unemployed people in the labor force, was also 6.6% in the June quarter of FY24. This suggests that the labor market has not seen significant improvements in recent months.
In comparison, the unemployment rate in the previous January-March quarter of FY24 was 6.7% in urban areas, indicating a slight decline in joblessness. However, the rate remains higher than desirable, highlighting the need for continued efforts to boost employment opportunities.
The unemployment rate among females aged 15 years and above in urban areas declined to 9% in April-June 2024 from 9.1% in the same quarter a year ago. This represents a positive trend, with more women entering the workforce or finding employment.
Among males, the unemployment rate in urban areas declined to 5.8% in April-June from 5.9% in the same quarter a year ago. This slight decrease suggests that the labor market is slowly improving for men.
The labour force participation rate in Current Weekly Status (CWS) in urban areas for people aged 15 years and above increased to 50.1% in April-June from 48.8% in the same quarter a year ago. This indicates more people are actively seeking or engaged in work.
The National Sample Survey Office (NSSO) launched the Periodic Labour Force Survey (PLFS) in April 2017, which provides estimates of labour force indicators like unemployment rate and labour force participation rate. These surveys help policymakers understand labor market trends and make informed decisions.
Labour force refers to the part of the population that supplies or offers to supply labour for pursuing economic activities, and includes both employed and unemployed persons. Understanding labor force dynamics is crucial for promoting economic growth and development.
