Generating employment

Claudia Goldin's work can guide India

The latest annual Periodic Labour Force Survey (PLFS) for July-June 2022-23, released on Monday, showed that the overall unemployment rate under the so-called usual status dipped to a six-year low of 3.2 per cent. Other things being equal, the dip in the unemployment rate, along with the increase in the labour force participation rate, suggests that the economy is creating jobs, though the quality of employment can always be debated. The labour force participation rate for people above 15 years has increased from the low of 49.8 per cent in 2017-18 to 57.9 per cent in the latest survey. The