Page 2 - Unemployment Rate

Employment rate jumps 36% in past decade, seen at 643.3 mn: Mandaviya

Union labour minister Dr Mansukh Mandaviya on Thursday said employment in the country has increased by 36 per cent to 64.33 crore in 2023-24 from 47.15 crore in 2014-15, which shows improvement in job creation during NDA period. Talking to media persons, the minister also stated that employment under UPA grew by just about 7 per cent between 2004 to 2014. According to the RBI data quoted by the minister, employment increased from 44.23 crore in 2014 to 47.15 crore in 2023-24. He noted that under the UPA government between 2004 to 2014 just 2.9 crore additional jobs were created whereas under the Modi government between 2014-24, 17.19 crore jobs were added. In the last one year (2023-24) alone, the Modi government has created around 4.6 crore jobs in the country, the minister stated. The data assumes significance in the backdrop of pressure on the government for job creation in the country. About the agriculture sector, the minister stated that employment declined by 16 per cen

Over 620k applicants for 127k opportunities under PM Internship Scheme

About 6.21 lakh applications have been received for 1.27 lakh opportunities under the Prime Minister's Internship Scheme and the selection process is continuing, the government said on Sunday. The scheme, announced in the 2024 Union Budget, aims to provide internship opportunities to 1 crore youth in top-500 companies over five years. A pilot project of the scheme, started on October 3, aims to provide 1.25 lakh internship opportunities during 2024-25. In a release on Sunday, the corporate affairs ministry said approximately 6.21 lakh applications have been received against 1.27 lakh internship opportunities. "The selection process for internship is ongoing." Partner companies have posted about 1.27 lakh internship opportunities on the internship scheme portal. About 4.87 lakh individuals have completed their KYC and registered themselves on the portal, the release said. Under the scheme, interns will be provided a monthly financial assistance of Rs 5,000 for 12 months and a one-

Unincorporated enterprises rise 12.28%, sees 10% rise in jobs: Govt survey

Unincorporated sector enterprises witnessed a 10.01 per cent increase in employment to over 12 crore during the year ended September 2024, while the number of establishments rose 12.28 per cent to 7.34 crore, according to a government survey. The survey, which covers unincorporated non-agriculture sector enterprises, showed gross value added (GVA) grew 16.52 per cent during the October 2023 - September 2024 period. These findings form part of the Annual Survey of Unincorporated Sector Enterprises (ASUSE) for 2023-24 for the reference period -- October 2023 - September 2024 -- referred to as ASUSE 2023-24, released by the Ministry of Statistics and Programme Implementation (MoSPI) on Tuesday. The sector employed more than 12 crore workers between October 2023 and September 2024, marking an increase of more than one crore workers from 2022-23 and reflecting robust labour market growth. The total number of workers employed increased to 12,05,99,800 in ASUSE 2023-24 from 10,96,26,000 i

Vijay Vasanth moves adjournment motion to discuss 'unemployment crisis'

Vasanth cited the Periodic Labour Force Survey (PLFS) report and said there has been no substantial improvement in employment between July 2023 and June 2024

Urban unemployment rate hits fresh low of 6.4% in Q2 FY25: PLFS data

The unemployment rate for people aged 15 years and above in urban areas dipped to 6.4 per cent in the July-September quarter, according to the National Sample Survey Survey (NSSO). Joblessness, or unemployment rate, is defined as the percentage of unemployed people in the labour force. The unemployment rate in the September quarter of FY24 was 6.6 per cent. The unemployment rate for people aged 15 years and above in the previous April-June quarter of FY25 was 6.6 per cent in urban areas, the 24th Periodic Labour Force Survey (PLFS) showed. The unemployment rate among females (aged 15 years and above) in urban areas declined to 8.4 per cent in July-September 2024 from 8.6 per cent in the same quarter a year ago. The rate was 9 per cent in April-June, 2024. Among males, the unemployment rate in urban areas declined to 5.7 per cent in July-September 2024 from 6 per cent in the same quarter a year ago. The rate was 5.8 per cent in April-June 2024. Labour force participation rate in .

A lasting problem: How can India address its unemployment crisis?

Experts argue that India's economy has not created enough quality jobs to meet the needs of its growing labour force, particularly for young, educated individuals

Unemployment rate remains unchanged at 3.2% from July 2023 to June 2024

Unemployment rate for persons aged 15 years and above has remained unchanged at 3.2 per cent in July 2023 to June 2024, according to the labour force survey annual report released on Monday. The unemployment rate (UR) is defined as the percentage of persons unemployed among the persons in the labour force. The report stated that while the UR for male has shown a marginal decline from 3.3 per cent during July 2022 June 2023 to 3.2 per per cent during July 2023 June 2024, among female it has increased from 2.9 per cent to 3.2 per cent during the same time span. Labour Force Participation Rate (LFPR) in usual status for persons of age 15 years and above was 60.1 per cent during July 2023 - June 2024 higher than 57.9 per cent in the previous year. The same for male and female was 78.8 per cent and 41.7 per cent, respectively. LFPR is defined as the percentage of persons in labour force (i.e. working or seeking or available for work) in the population. LFPR for female of age 15 year

Canada's jobless rate at 6.6%, surges past 7-yr high excluding pandemic

Canada's economy had been losing steam under the pressure of high interest rates, and most of the growth seen earlier in the year was primarily led by increase in population

Weekly unemployment claims fall unexpectedly to 227,000: US labour dept

Initial claims for state unemployment benefits dropped 7,000 to a seasonally adjusted 227,000 for the week ended Aug. 10, the Labour Department said

Youth jobless rate fell globally to 15-year low in 2023: ILO report

Report expresses concern over number of youth in NEET, which stood at 20.4% globally

Unemployment rate fell 1.3 percentage points in July amid uptick in hiring

Unemployment rate stood at 7.9% in July, down from 9.2 per cent reported in previous month

Unemployment rate will drop below 3%, no concern for job losses: Mandaviya

Union Labour Minister Mansukh Mandaviya assured the Lok Sabha that employment generation efforts by Prime Minister Narendra Modi has led to significant reduction in the unemployment rate

Modi govt's only mission is to make sure youth are jobless, alleges Kharge

The Modi government has only one mission and that is to "keep the youth jobless", Congress president Mallikarjun Kharge alleged on Tuesday in a scathing attack against the Centre on the issue of unemployment. The Modi government may be refuting independent economic reports like the one by Citigroup on unemployment but how will it deny government data, Kharge asked in a lengthy post on X citing various reports. "The truth is that Modi government is solely responsible for shattering the dreams of crores of youth in the last 10 years," he alleged. Kharge said the latest government data punctures the government's claims. According to NSSO's (National Sample Survey Office) Annual Survey of Unincorporated Sector Enterprises, in the manufacturing sector, 54 lakh jobs were lost in unincorporated units in the seven years between 2015 and 2023, he said. "In 2010-11, 10.8 crore employees were employed in unincorporated, non-agricultural enterprises across India, which has become 10.96 crore

Manufacturing wages are heading up amid labour shortage in country

Pay is rising faster than in other segments of the economy

Unemployment rate rises to 8-month high of 9.2% in June: CMIE data

Rural areas continue to experience higher unemployment rates, with joblessness growing to 9.3 per cent in June 2024 from 6.3 per cent in May 2024 and 8.8 per cent in June 2023

Centre to use tech to reduce time-lapse between survey, policy-making

The Ministry of Statistics & Programme Implementation will continue to focus on technology to reduce the time lag between surveys to enable evidence-based policy making and increase the frequency of such periodic studies, said a senior official. Addressing a 'Data user conference on Household Consumption Expenditure Survey (HCES) 2022-23' Statistics Secretary Saurabh Garg said, "Use of technology is something which we will continue to focus on as we move ahead. The purpose of that is to ensure that the time period between surveys can be reduced." Citing examples of HCES, PLFS (periodic labour force survey), he said many of these surveys are annual and the ministry is trying to find out which of these surveys can be made quarterly or even monthly. Later talking to reporters on the sidelines, Garg said the ministry is looking at making PLFS a monthly study. Presently, PLFS is brought out quarterly and annually. Considering the importance of availability of labour force data at more .

US economic growth revised lower for Q1; weekly jobless claims edge up

The labor market is steadily rebalancing in the wake of 525 basis points worth of interest rate hikes from the Federal Reserve since March 2022 to slow demand in the overall economy

Global unemployment rate is expected to fall slightly to 4.9% in 2024: ILO

The International Monetary Fund in April raised its 2024 forecasts for global growth to 3.2% from the 3.1% estimated in January, largely due to an improvement in the U.S. outlook

Urban jobless rate reaches four quarter high in Q4FY24: PLFS data

Previously, the jobless rate in urban areas has been steadily declining since the high of 12.6 per cent reported during the April-June quarter of FY22 during the peak of the pandemic

Jobs listed on govt's NCS portal surge threefold to 10.9 million in FY24

In FY24, the number of job seekers selected via the portal surged by 53 per cent to reach 8.72 million, compared to 5.72 million in FY23