Urban joblessness up to 6.7% in FY24 Q4 from 6.5% in Q3 – Times of India

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NEW DELHI: Unemployment rate for individuals aged 15 and above in urban areas eased marginally to 6.7% in the Jan-March quarter of 2023-2024, from 6.8% in the same period last year, according to the latest official data released Wednesday.
Periodic labour force survey data showed that the rate inched up a tad in the Jan-March quarter from Oct-Dec quarter’s 6.5%.
Joblessness rate, which had soared to double digit during Covid, has stabilised over the months as curbs to ward off the pandemic lifted and economic activity gathered momentum.
PLS data showed that joblessness rate for males increased from 6% in Jan-March 2023, to 6.1% in Jan-March 2024, while for females it decreased from 9.2% in Jan-March 2023, to 8.5% in Jan-March this fiscal. Unemployment rate is defined as the percentage of persons unemployed among those in the labour force.

The survey results also showed that the labour force participation rate (LFPR) in urban areas increased from 48.5% in Jan-March 2023 to 50.2% in Jan-March 2024 for those in the 15 years and above age group. While for men, the LFPR increased from 73.5% to 74.4% during this period, for women, it increased from 22.7% to 25.6%. LFPR is defined as the percentage of persons in the labour force (working or seeking or available for work) in the population.
The worker population ratio (WPR) in urban areas increased from 45.2% in three months to March of 2023 to 46.9% in Jan-March this year for persons in 15 years and above category.
For men, it increased from 69.1% to 69.8% during this period and for women, it rose from 20.6% to 23.4% in Jan-March this fiscal. WPR is defined as the percentage of employed persons in the population.
The PLFS was launched by NSO to estimate employment and unemployment indicators (worker population ratio, labour force participation rate, unemployment rate) in the short time interval of three months for urban areas only in the current weekly status.

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