According to the latest data from the Periodic Labour Force Survey (PLFS) released by the National Statistical Office (NSO) on Wednesday, there has been a positive shift in India’s urban job market. The unemployment rate for individuals aged 15 and above decreased marginally from 6.8 per cent to 6.7 per cent during January-March 2024 compared to the same period last year.
In particular, there has been a notable decline in the female unemployment rate in urban areas, dropping from 9.2 per cent to 8.5 per cent over the same period.
Furthermore, there’s been a consistent uptick in the Worker Population Ratio (WPR), indicating an increase in employment. The WPR for individuals aged 15 and above rose from 45.2 per cent to 46.9 per cent, demonstrating a positive trend in employment rates.
The Female Worker Population Ratio in urban areas also witnessed an encouraging rise from 20.6 per cent to 23.4 per cent, aligning with the overall growth in WPR. Moreover, the Labor Force Participation Rate (LFPR) for individuals aged 15 and above in urban areas has shown improvement, climbing from 48.5 per cent to 50.2 per cent during January-March 2024 compared to the same period last year. This upward trend signifies a strengthening job market.