Active Stocks
Sat Mar 02 2024 12:29:56
  1. Tata Steel share price
  2. 155.30 3.53%
  1. HDFC Bank share price
  2. 1,430.50 -0.05%
  1. State Bank Of India share price
  2. 773.40 0.53%
  1. ICICI Bank share price
  2. 1,084.60 -0.21%
  1. Axis Bank share price
  2. 1,095.00 -0.40%
Business News/ Economy / Urban unemployment rate drops in Oct-Dec
BackBack

Urban unemployment rate drops in Oct-Dec

The trend of decreasing unemployment rates in urban areas has been consistent throughout 2023

In urban areas, male LFPR increased to 74.1%, from 73.3%, and female LFPR to 25%, from 22.3%. (Image: Pixabay)Premium
In urban areas, male LFPR increased to 74.1%, from 73.3%, and female LFPR to 25%, from 22.3%. (Image: Pixabay)

New Delhi: The unemployment rate in urban areas fell to 6.5% in the three months to December, down from 7.2% in the same period of 2022, the ministry of statistics and programme implementation (MoSPI) said on Monday.

Its Periodic Labour Force Survey (PLFS) Quarterly Bulletin said the labour force participation rate (LFPR) in urban areas—as a proportion of everyone in the labour force—has shown an increasing trend from 48.2% to 49.9% during the above-mentioned year.

The surveyed were all over 15 years old.

In urban areas, male LFPR increased to 74.1% (from 73.3%), and female LFPR to 25% (from 22.3%).

The worker-to-population ratio (WPR) in urban areas increased to 46.6% during the October-December 2023 quarter, up from 44.7% in the same period of the previous year.

For males, WPR increased from 68.6% to 69.8% and for females from 20.2% to 22.9% .

According to the ministry, as many as 44,544 urban households and about 169,000 people across the country made up the sample size of the survey during the October–December 2023 quarter.

“A rotational panel sampling design has been used in urban areas. In this rotational panel scheme, each selected household in urban areas is visited four times, in the beginning with ‘First Visit Schedule’ and thrice periodically later with a Revisit Schedule," the statistics ministry said.

“The scheme of rotation ensures that 75% of the first-stage sampling units (FSUs) are matched between two consecutive visits," it added.

The unemployment rate in urban areas has been declining.

During the July-September 2023 quarter, it fell to 6.6%, while LFPR increased to 49.3%, according to the previous Periodic Labour Force Survey (PLFS) Quarterly Bulletin released in November.

Joblessness during the April-June 2023 quarter also stood at 6.6%, down from 6.8% in the previous quarter.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 12 Feb 2024, 08:33 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App