Unemployment rate in urban areas falls to 6.50 per cent in Q3

The unemployment rate in urban areas of India for people aged 15 years and above dropped to 6.5 per cent throughout October–December 2023, down from 7.2 per cent in the identical interval final 12 months, in accordance to authorities information launched on Monday.

The Periodic Labour Force Survey (PLFS), initiated in April 2017 for extra frequent labour pressure information, reported that the unemployment rate for males decreased from 6.5 per cent to 5.8 per cent, and for females from 9.6 per cent to 8.6 per cent throughout this era.

“For males, UR (unemployment rate) decreased from 6.5 per cent in October-December 2022 to 5.8 per cent in October-December 2023, while for females, UR decreased from 9.6 per cent in October-December 2022 to 8.6 per cent in October-December 2023,” PLFS quarterly bulletin stated.

Additionally, the employee inhabitants ratio (WPR) in urban areas elevated from 44.7 per cent to 46.6 per cent, with the male ratio rising from 68.6 per cent to 69.8 per cent and the feminine ratio from 20.2 per cent to 22.9 per cent.

The labour pressure participation rate in urban areas rose from 48.2 per cent to 49.9 per cent for people aged 15 years and older throughout the specified interval.

(With PTI inputs)

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