- The Periodic Labour Force Survey (PLFS) for July 2023 to June 2024 reports a stable unemployment rate but highlights minor changes in workforce distribution, especially in agriculture and female labour force participation.
- Unemployment Rate (UR): No significant change in the overall unemployment rate, which remains at 3.2%.
- Labour Force Participation Rate (LFPR): LFPR increased overall, from 50.7% in 2017-18 to 63.7% in rural areas and from 47.6% to 52% in urban areas.
- Workforce Distribution: There is a minor increase in the number of agricultural workers, while the manufacturing sector shows no growth in job creation.
- Participation in manufacturing remains stagnant at 11.4%, down from 12.8% in 2012.
- The construction sector’s contribution to employment reverted to 12%.
- Increased LFPR is attributed to rising unpaid family labour in agriculture, not better job opportunities.
- Concerns were raised about the reversal in non-farm job search, indicating ongoing challenges in diversifying employment.
| PLFS Key Conceptual Framework: Labour Force Participation Rate (LFPR): LFPR is defined as the percentage of persons in the labour force (i.e. working or seeking or available for work) in the population. Worker Population Ratio (WPR): WPR is defined as the percentage of employed persons in the population. Unemployment Rate (UR): UR is defined as the percentage of persons unemployed among the persons in the labour force. Current Weekly Status (CWS): The activity status determined on the basis of a reference period of the last 7 days preceding the date of the survey is known as the current weekly status (CWS) of the person. |
Dig Deeper: Read about the WEF’s The Future of Jobs Report, 2023.
