During January-March 2024, the unemployment rate in India's urban regions saw a decline to 6.7%, down from 6.8% in the corresponding period of the previous year among individuals aged 15 and above.
This decrease, as per the data from the Periodic Labour Force Survey (PLFS) released by the National Statistical Office (NSO) on Wednesday, indicates a sustained advancement in the job markets. Particularly noteworthy is the decrease in female unemployment rates, which decreased from 9.2% in the first quarter of 2023 to 8.5% in the corresponding period of 2024.
Moreover, there's been a discernible uptick in the Worker Population Ratio (WPR) among individuals aged 15 and above, climbing from 45.2% in the first quarter of 2023 to 46.9% in the same period of 2024. The WPR, defined as the proportion of employed individuals in the population, serves as a crucial indicator of employment growth.
Likewise, the Female Worker Population Ratio in urban areas exhibited a notable surge, ascending from 20.6% to 23.4% between the first quarters of 2023 and 2024, further corroborating the overall upward trajectory in WPR.
There's been a notable upward trajectory in the urban Labour Force Participation Rate (LFPR), which increased from 48.5% in the first quarter of 2023 to 50.2% in the corresponding period of 2024 among individuals aged 15 and above. This rise indicates a positive improvement in the job market environment, reflecting promising prospects for employment.
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