Unemployment rate in rural areas falls to 2.4%, urban down to 5.4%: Survey
The report shows that in rural areas, the unemployment rate decreased from 5.3 per cent in 2017-18 to 2.4 per cent in 2022-23 while for urban areas it declined from 7.7 per cent to 5.4 per cent.
The unemployment rate in both rural and urban areas in India has registered a significant decline, according to the sixth annual report released by the National Sample Survey Office (NSSO) on Tuesday based on the Periodic Labour Force Survey conducted during July 2022-June 2023.
The report shows that in rural areas, the unemployment rate decreased from 5.3 per cent in 2017-18 to 2.4 per cent in 2022-23 while for urban areas it declined from 7.7 per cent to 5.4 per cent.
Gender-wise the unemployment rate has come down for both the male and female population in the country indicating that women are also getting more jobs as the economy grows.
The unemployment rate for the male population in India decreased from 6.1 per cent in 2017-18 to 3.3 per cent in 2022-23 while the corresponding decrease in unemployment for the female population was from 5.6 per cent to 2.9 per cent, according to the survey.
The declining unemployment trend is also backed by data on the percentage of work force participation in the total population which has shown a significant increase in both the rural and urban areas.
According to an official statement, the field work for collection of information in respect of the samples, allotted for the period July 2022–June 2023, was completed timely for the first visit as well as revisit samples, except for 51 first visit and 68 revisits for Manipur, allotted in the last quarter i.e., April-June 2023, which were treated as casualties, due to disturbed field situation and unavailability of internet services.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
01:28 PM IST