Unemployment rate falls for third year in row, now 3.2%: Govt survey

Neeraj Mohan

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New Delhi, December 22

Witnessing a sustained decline for the third consecutive year, India’s unemployment rate now stands at 3.2 per cent. The rural unemployment is at 2.4 per cent.

PLI scheme to create 60L jobs

The production-linked incentive scheme, with a budget of Rs 1.97 lakh crore over a 5-year period starting from 2021-22, holds the potential to create 60 lakh new jobs. Rameswar Teli, MOS, Labour & Employment

Official data on employment gathered through the Periodic Labour Force Survey (PLFS) indicates a declining trend in the unemployment rate for individuals aged 15 and above.

The overall unemployment rate has decreased from 4.1 per cent in 2021-22 and 4.2 per cent in 2020-21 to the 3.2 per cent. The rural employment rate has seen a drop from 3.2 per cent in 2021-22 and 3.3 per cent in 2020-21 to 2.4 per cent in 2022-23, according to information shared by Union Minister of State for Labour and Employment Rameswar Teli in the Rajya Sabha.

The data also highlights a consistent decline in the rural female unemployment rate, which now stands at 1.8 per cent in 2022-23, compared to 2.1 per cent from 2020-21 to 2021-22.

However, specific regions present varying challenges, with Goa topping the charts with a rural female unemployment rate of 17.7 per cent, followed by Kerala (9.2 percent) and Punjab (8.7 percent). Chandigarh, a UT, has a rural female unemployment rate of 10.7 per cent.

Minister Teli said the official data, collected through the PLFS conducted by the Ministry of Statistics and Programme Implementation since 2017-18, covered the period from July to June each year.

Teli highlighted the importance of employment generation and improving employability as top priorities. He outlined various measures taken by the government, underscoring the production linked incentive (PLI) scheme. This initiative, with a budget of Rs. 1.97 lakh crore over a 5-year period starting from 2021-22, holds the potential to create 60 lakh new jobs, claims the minister.