The unemployment rate (UR) for individuals aged 15 and above has remained steady at 3.2% during the period from July 2023 to June 2024, according to the annual report of the Periodic Labour Force Survey (PLFS), released on Monday by the National Sample Survey Office (NSSO).
While the UR for men saw a slight decline from 3.3% in the previous year to 3.2%, the rate for women increased from 2.9% to 3.2% over the same time span.
The Labour Force Participation Rate (LFPR) for persons aged 15 and above increased to 60.1% during the same period, up from 57.9% in the previous year. The LFPR for males stood at 78.8%, while for females, it rose significantly from 37.0% to 41.7%.
In terms of employment, the Worker Population Ratio (WPR) for individuals aged 15 years and above saw an increase from 56.0% in 2022-23 to 58.2% in 2023-24. The WPR for women grew from 35.9% to 40.3%, while for men, it was recorded at 76.3%.
The NSSO has been conducting the PLFS since April 2017 to provide more frequent data on employment trends in both rural and urban areas. This is the seventh annual report based on the survey conducted during July 2023-June 2024.
The PLFS aims to estimate key indicators of employment, including the unemployment rate, worker population ratio, and labour force participation rate, with quarterly updates for urban areas and annual updates for both rural and urban regions.