New Delhi: The unemployment rate in urban areas has fallen to 6.7 percent in January-March from 6.8 percent the previous year for those aged 15 and up, the National Sample Survey Office revealed.
It is worth noting that joblessness, or unemployment rate, is defined as the proportion of unemployed people in the labour force. Finance Minister Nirmala Sitharaman also posted on X regarding the development.
The Union Minister further added that the female unemployment rate dropped from 9.2 percent in January-March 2023 to 8.5 percent in January-March 2024. The labour force participation rate (LFPR) in urban areas increased from 48.5 percent to 50.2 percent between January-March 2023 and January-March 2024, for people aged 15 and up.
Notably, she also added that the increased access to basic amenities such as piped drinking water under the Jal Jeevan Mission, clean cooking fuel under Ujjwala (no collecting or burning firewood), sanitation, etc is freeing up women’s time from domestic duties, enabling them to undertake work &\and employment opportunities.
The latest bulletin data corroborates the other high-frequency indicators showing the robust performance of the Indian economy, which is on track to become the third largest globally by the end of this decade.
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