New Delhi: India’s unemployment rate has dipped to a one-year low, according to government data released on Monday.
The rate of joblessness — number of unemployed people divided by the labour force (people with jobs plus the unemployed) multiplied by 100 — in urban areas for people above 15 years of age was at 6.6% during April-June 2023 period, compared to 7.6% in the same quarter last year, the Ministry of Statistics & Programme Implementation’s four-monthly periodic labour force survey (PLFS) showed.
As for recent comparison, unemployment rate in the preceding quarter (January-March 2023) was of 6.8%.
Labour force participation rate (LFPR), a key parameter which refers to people with jobs or those seeking jobs, stood at a four-quarter high of 48.8%, compared to 47.5% in the same quarter last year.
