The unemployment rate for individuals aged 15 years and above in urban areas fell to 6.7 per cent in the January-March quarter in the 2023-24 fiscal year (FY24), the latest survey by the National Sample Survey Office (NSSO) revealed. The survey showed that the unemployment rate in the category stood at 6.8 per cent in the last quarter in the previous 2022-23 fiscal year (FY23).
The 22nd Periodic Labour Force Survey (PLFS) by the NSSO showed that the unemployment rate in the first two quarters, namely April-June and July-September in FY24 stood at 6.6 per cent, while the figure dipped to 6.5 per cent in October-December 2023. Unemployment rate represents the percentage of people that are unemployed in the labour force, reported PTI.
Genderwise, the unemployment among females, aged 15 years and above, in urban areas slipped to 8.5 per cent in the last quarter of FY24, against 9.2 per cent in the corresponding quarter a year earlier. The figure stood at 9.1 per cent in the April-June period in FY24, falling to 8.6 per cent in the July-September quarter and October-December quarter in the fiscal.
Amongst males, the unemployment rate in urban areas climbed to 6.1 per cent in January-March in FY24, against 6 per cent in the corresponding quarter a year earlier. The unemployment rate in the category stood at 5.9 per cent in April-June 2023, 6 per cent in July-September 2023, and slipped again to 5.8 per cent in October-December quarter in 2023.
The labour force participation rate in Current Weekly Status (CWS) in urban areas for individuals aged 15 years and above climbed to 50.2 per cent in the last quarter of FY24, against 48.5 per cent clocked in the corresponding period a year earlier.
Labour force means the part of the population, that supplies or offers to provide labour for completing the economic activities for producing goods and services and includes both employed and unemployed individuals.
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