New Delhi: The labour force survey annual report has stated that the unemployment rate for persons aged 15 years and above has remained unchanged at 3.2 per cent in July 2023 to June 2024. The unemployment rate (UR) is defined as the percentage of persons unemployed among the persons in the labour force.
The National Sample Survey Office (NSSO) launched Periodic Labour Force Survey (PLFS) in April 2017 to estimate regarding the key employment and unemployment indicators (viz. Worker Population Ratio, Labour Force Participation Rate, Unemployment Rate) in the short time interval of three months for the urban areas only in the ‘Current Weekly Status’ (CWS) and to estimate employment and unemployment indicators in both ‘Usual Status’ (ps+ss) and CWS in both rural and urban areas annually.
The report stated that the unemployment rate for male has shown a marginal decline from 3.3 per cent during July 2022 – June 2023 to 3.2 per per cent during July 2023 – June 2024. Among female it has increased from 2.9 per cent to 3.2 per cent during the same time span.
Labour Force Participation Rate (LFPR) in usual status for persons of age 15 years and above was 60.1 per cent during July 2023 – June 2024 higher than 57.9 per cent in the previous year.
The same for male and female was 78.8 per cent and 41.7 per cent, respectively.
LFPR is defined as the percentage of persons in labour force (i.e. working or seeking or available for work) in the population.
LFPR for female of age 15 years above in usual status has increased from 37.0 per cent during July 2022 – June 2023 to 41.7 per cent during July 2023 – June 2024.
For male of the same age group LFPR in usual status increased from 78.5 per cent to 78.8 per cent during the same time span.
Worker Population Ratio (WPR) in usual status was 58.2 per cent during July 2023 – June 2024 up from 56.0 per cent in the year ago. The same for male and female was 76.3 per cent and 40.3 per cent respectively.
The WPR in usual status among female of age 15 years and above has shown an increase from 35.9 per cent during July 2022 – June 2023 to 40.3 per cent during July 2023 – June 2024.
WPR is defined as the percentage of employed persons in the population.
Considering the importance of availability of labour force data at more frequent time intervals, National Sample Survey Office (NSSO) launched Periodic Labour Force Survey (PLFS) in April 2017.
Labour Force Participation Rate (LFPR) is defined as the percentage of persons in labour force (i.e. working or seeking or available for work) in the population. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
