Domestic youth unemployment lower than global levels: Labour Ministry
The central government has said that the rate of unemployment in the 15-29 age bracket was lower than global levels in FY24. It has also said that the Worker Population Ratio (WPR) for the youth increased from 31.4 per cent in 2017-18 to 41.7 per cent in 2023-24.
The central government said on Monday that the rate of unemployment in the 15-29 age bracket was lower than global levels in the financial year 2023-24. Responding to a question in the Lok Sabha, Minister of State for Labour and Employment Sushri Shobha Karandlaje submitted, citing Periodic Labour Force Survey (PLFS) data, that the unemployment rate stood at 10.2 per cent for the mentioned age category. The minister also mentioned that the Worker Population Ratio (WPR) for the youth increased from 31.4 per cent in 2017-18 to 41.7 per cent in 2023-24.
The PLFS data is collated by the Ministry of Statistics and Programme Implementation (MoSPI). The survey follows a July-June year.
The youth unemployment rate worldwide was recorded at 15.6 per cent in 2021 and 13.3 per cent in 2023, according to the World Employment and Social Outlook Trends recorded by the International Labour Organisation (ILO).
Payroll data provided by the Employees’ Provident Fund Organization (EPFO) gives an idea of the level of employment in the formal sector, the minister stated.
"More than 1.3 crore net subscribers joined EPFO during 2023-24. Moreover, during September 2017 to August, 2024, more than 7.03 crore net subscribers have joined EPFO, indicating increase in formalisation of employment. All the labour force indicators are providing evidence of improved employment scenario in the country," wrote Karandlaje.
The minister mentioned that the Narendra Modi government has taken various steps towards its priority to create employment while improving the employability conditions in the country.
The Minister of State for Labour and Employment also pointed out that several ministers and departments, including the Finance, Housing and Urban Affairs, MSME and Rural Development are implementing different employment generation schemes and programmes towards this goal.
These initiatives include Prime Minister’s Employment Generation Programme (PMEGP), Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), Pt Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY), Rural Self Employment and Training Institutes (RSETIs), Deen Dayal Antodaya Yojana-National Urban Livelihoods Mission (DAY-NULM) and Pradhan Mantri Mudra Yojana (PMMY).
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