The unemployment rate in urban areas fell to 6.6% for those aged 15 years and above during July-September FY23, according to data released by the Periodic Labor Force Survey (PLFS) of the National Sample Survey Office (NSSO). . In contrast, the unemployment rate was 7.2% in the July-September quarter of last year.
The unemployment rate for men aged 15 and over was 6% in the September quarter, compared with 6.6% in the same period last year. The unemployment rate for women aged 15 and over was 8.6% in the reporting period, compared to 9.4% in the same period last year.
“The government’s report highlights some important trends and concerns. The overall increase in female labor force participation is attributed to a significant increase in the number of female workers in the agricultural sector, while there has been some decline in numbers in the secondary sector. As organizations.” “As we begin working in the office again, female workers will face greater challenges than their male counterparts as they have to balance their home responsibilities with office hours,” says Shantanu Rooj, Founder and CEO by TeamLease Edtech.
“Furthermore, the new world of work expects applicants to continually acquire new skills and demonstrate both productivity and resilience. We believe this temporary decline can be addressed in the coming quarters through a combination recipe – these candidates gain new skills and are also resilient.” “We are more open to in-office and hybrid work environments,” he adds.
Meanwhile, the labor force participation rate (LFPR) for people aged 15 and over was 49.3% in the third quarter, compared to 47.9% in the same period last year. The LFPR was 45.5% in the April quarter.
The LFPR is defined as the percentage of the population that is economically active (i.e., working, looking for work, or available for work). Of these, the LFPR of the male population increased to 73.8% during the reporting period compared to 73.4% in the same period last year. The LFPR for women increased to 24% in the September quarter from 21.7% in the same period last year.
Notably, the labor force to population ratio (WPR) stood at 46% in the September quarter compared to 44.5% in the same period last year. The WPR is defined as the percentage of employed people in the population. The WPR was 45.5% in the April quarter. The WPR for men was 69.4% in the September quarter compared to 68.6% in the same period last year. The WPR of the female population increased to 21.9% during the period under review compared to 19.7% in the same period last year.
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