New Delhi:Â According to the Periodic Labour Force Survey Annual Report 2022-2023, which was released on Monday by the National Sample Survey Office, the unemployment rate for people in India who are 15 years of age and older reached a six-year low of 3.2% between July 2022 and June 2023.
The percentage of unemployed people in the labor force is known as the unemployment rate.
The NSSO introduced the Periodic Labour Force Survey (PLFS) in April 2017 in light of the significance of having access to labor force statistics at more frequent intervals.
The time frame used for this is July 2022 to June 2023. At the national level for people aged 15 and over, the Unemployment Rate (UR) in normal status decreased from 4.1% in 2021–22 to 3.2% in 2022–23.
The UR was 4.2 percent in 2020-21, 4.8 percent in 2019-20, 5.8 percent in 2018-19, and 6 percent in 2017-18, the PLFS data showed.
The usual status means that the employment is determined based on the reference period of 365 days preceding the survey date.
According to the declaration on the data, the years 2021–22, 2020–21, 2019–20, 2018–19, and 2017–18 refer to the years July 2022–June 2023.
UR declined from 5.3% in rural areas in 2017–18 to 2.4% in 2022–23, decreasing from 7.7% to 5.4% in urban areas. In India, the UR for men dropped from 6.1% in 2017–18 to 3.3% in 2022–23, and the UR for women dropped from 5.6% to 2.9% during the same time, according to the report.
The study also revealed an increase in the Labor Force Participation Rate (LFPR) for people aged 15 and older, going from 49.8 to 57.9 percent in normal status during 2017-18.
The Labor Force Participation Rate (LFPR) is the proportion of the employed population actively looking for work or otherwise available for employment.
The LFPR in rural regions climbed from 50.7% in 2017–18 to 60.8% in 2022–23 and increased from 47.6% to 50.4% in urban areas. The LFPR for males in India climbed from 75.8% in 2017–18 to 78.5% in 2022–23, and the LFPR for females increased correspondingly from 23.3% to 37.0%, it said.
In addition, the Worker Population Ratio (WPR) in ordinary status (ps+ss) for those aged 15 and over increased from 46.8% in 2017–18 to 56% in 2022–23.
The proportion of employed people in the population is known as the WPR.
WPR in urban areas climbed from 43.9 to 47.7 percent, while WPR in rural areas increased from 48.1% in 2017–18 to 59.4% in 2022–23. The WPR for men in India climbed from 71.2% in 2017–18 to 76.0% in 2022–23, and the WPR for women increased similarly from 22.0% to 35.9%, it said.
Five annual reports are published based on the data gathered in PLFS between July 2017 and June 2018, July 2018 and June 2019, July 2019 and June 2020, July 2020 and June 2021, and June 2021 and June 2022.
The NSSO has released the sixth Annual Report based on the periodic labor force survey carried out between July 2022 and June 2023.