Urban Jobless: The joblessness rate in the first quarter of the current financial year, however, showed a marginal decline compared to 6.7% recorded in the preceding Jan-March 2024 period, which was a four-quarter high, the data showed.
The survey also showed that the unemployment rate for those aged 15-29 years, the key demographic category comprising youth, came in at 16.8% in the first quarter of the current fiscal year, lower than the 17% registered in the preceding quarter.
Among those looking for work, men were able to find more jobs compared to women, according to the survey’s results. The unemployment rate among females aged 15 years and above was 9% in the quarter, compared to 5.8% for men.
Urban Jobless: Solutions
The Union government launched the flagship PLFS in 2017 to assess labour-market movements in a country with a burgeoning job-seeking population. The PLFS issues quarterly data on key indicators but with a lag, including the country’s unemployment rate for urban areas.
According to the government’s Economic Survey 2023-24, India needs to create 7.85 million non-farm jobs every year until 2030 to absorb its growing workforce.
The quarterly surveys gauge employment based on “current weekly status,” or CWS. A reference period based on CWS means the PLFS considers a person employed if he or she had been engaged in any economic activity in the week prior to the survey.
The PLFS also publishes an annual report on employment and unemployment rates in both urban and rural areas based on both CWS and usual status (US), which is a 12-month reference period.
April-June 2024 Report:
Among key indicators in the latest survey, the labour force participation rate (LFPR) in urban areas increased from 48.8% during April–June 2023 to 50.1% in April–June 2024. LFPR refers to the number of people working or are looking for work and helps to give a better assessment of the labour market.
The marginally lower unemployment rate in the April-June quarter came on the back of a fall in the male unemployment rate, the data released by the ministry of statistics and programme implementation showed.
The worker-to-population ratio (WPR) in urban areas among persons aged 15 years and above increased from 45.5% during April–June 2023 to 46.8% in April–June 2024. The WPR is defined as the percentage of employed persons in a given population.
The results of the poll showed that men were more successful than women in finding jobs among those looking for work. During the quarter, the unemployment rate for women who are 15 years of age or older was 9%, while it was 5.8% for men.
The flagship PLFS was introduced by the Union government in 2017 to evaluate labor-market developments in a nation where the number of job seekers is rapidly increasing. The nation’s urban unemployment rate is among the important indicators for which the PLFS releases quarterly data, albeit with a delay.
In order to accommodate its expanding workforce, India will need to create 7.85 million non-farm jobs annually until 2030, according to the government’s Economic Survey 2023–24.
“Current weekly status,” or CWS, is the basis for measuring employment in the quarterly surveys. When the PLFS uses a reference period based on CWS, it means that an individual is deemed employed if they have participated in any form of economic activity during the week preceding the survey.
A yearly report on employment and unemployment rates in urban and rural areas, based on both CWS and usual status (US) and a 12-month reference period, is also published by the PLFS.
One of the most important metrics from the most recent poll was the urban labor force participation rate (LFPR), which went from 48.8% in April–June 2023 to 50.1% in April–June 2024. A more accurate picture of the labor market can be obtained by referring to the number of persons who are employed or seeking employment (LFPR).
The figures issued by the Ministry of Statistics and Program Implementation indicated that a decline in the male unemployment rate was the reason for the somewhat lower unemployment rate in the April-June quarter.
In urban areas, the worker-to-population ratio (WPR) for individuals over the age of 15 rose from 45.5% in April–June 2023 to 46.8% in April–June 2024. The percentage of employed people in a given population is known as the WPR.
