The NSO Survey on unemployment rates in India has found that in the country’s rural areas, unemployment rate decreased from 5.3% in 2017-18 to 2.4% in 2022-23, lowest in six years. Unemployment rate in urban areas decreased from 7.7% to 5.4%. The Labour Force Participation Rate for women in India increased from 23.3 % to 37 %, highest in six years.
The corresponding increase in LFPR for men was from 75.8% in 2017-18 to 78.5% in 2022-23, again highest in six years. In rural areas, Worker Population Ratio increased from 48.1% in 2017-18 to 59.4% in 2022-23, touching the highest in six years. For urban areas it increased from 43.9% to 47.7%, touching the highest in six years. Unemployment Rate during April-June 2023 was 6.6% which is lower than the unemployment rates observed in the quarters covered in the pre-pandemic period. Unemployment Rate ranged from 7.8% to 9.7% during the pre-pandemic period. Unemployment Rate in urban areas decreased from 7.6% in April-June 2022 to 6.6% in April-June 2023. For men, it decreased from 7.1% to 5.9% during this period and for women, it decreased from 9.5% to 9.1% during this period. Rural Workforce Boom: WPR Skyrockets to 59.4% in 2022-23, Urban Areas Rise to 47.7%. Worker Population Ratio (WPR) is defined as the percentage of employed persons in the population. In rural areas, WPR increased from 48.1% in 2017-18 to 59.4% in 2022-23, touching the highest in six years. For urban areas it increased from 43.9% to 47.7%, touching the highest in six years. WPR for men in India increased from 71.2% in 2017-18 to 76.0% in 2022-23 and a corresponding increase in WPR for women was from 22.0% to 35.9%, touching the highest in six years.
Urban Labor Market Bounces Back Stronger than Ever: Surpasses Pre-Pandemic Levels in Key Indicators. Unemployment Rate during April-June 2023 was 6.6% which is lower than the unemployment rates observed in the quarters covered in the pre-pandemic period. Unemployment Rate ranged from 7.8% to 9.7% during the pre-pandemic period. LFPR during April-June 2023 was 48.8% which is higher than the labour force participation rate observed in the quarters covered in the pre-pandemic period. Worker Population Ratio (WPR), is defined as the percentage of employed persons in the population. WPR during April-June 2023 was 45.5% which is higher than the worker population ratio observed in the quarters covered in the pre-pandemic period. WPR during the pre-pandemic period ranged from 41.8% to 44.1%.
Heartening rise in numbers: WPR in urban areas increased from 43.9% in April-June 2022 to 45.5% in April-June 2023. For men, it increased from 68.3% to 69.2% during this period and for women, it increased from 18.9% to 21.1% during this period.
IN A NUTSHELL
