New Delhi: Unemployment rate in urban areas for persons aged 15 and above has decreased to 6.7 per cent during the previous quarter January to March 2024. The unemployment rate was 6.8 per cent during the corresponding period of last year. The Periodic Labour Force Survey quarterly bulletin (January to March 2024) revealed this.
The unemployment rate in the March quarter of FY23 was 6.8 per cent, while it was 6.6 per cent in April-June as well as in the third quarter (July-September 2023) of the previous fiscal. It was 6.5 per cent in October-December 2023.
As per data, the female unemployment rate decreased to 8.5 per cent. It was at 9.2 per cent in the same quarter a year ago. It was 9.1 per cent in April-June 2023, 8.6 per cent in July-September 2023, and 8.6 per cent in October-December 2023.
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The Labour Force Participation Rate in urban areas has shown an increasing trend from 48.5 per cent to 50.2 per cent from January to March 2024 in comparison to the corresponding period of last year.
Among males, the unemployment rate in urban areas rose to 6.1 per cent in January-March 2024 compared to 6 per cent in the year-ago period. It was 5.9 per cent in April-June 2023, 6 per cent in July-September 2023, and 5.8 per cent in October-December 2023.
In the same period, Female Labour Force Participation Rate in urban areas rose from 22.7 per cent to 25.6 per cent. The female worker population ratio in urban areas also rises from 20.6 per cent to 23.4 per cent during the survey period.
Joblessness, or unemployment rate, is defined as the percentage of unemployed people in the labour force. Labour force refers to the part of the population, which supplies or offers to supply labour for pursuing economic activities for the production of goods and services and, therefore, includes both employed and unemployed persons.
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