Unemployment rate declines to 6.6% in Q2FY24: NSSO
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The National Sample Survey Office (NSSO) has said that the unemployment rate for people aged 15 years and above in urban areas declined to 6.6 per cent in the September quarter (Q2FY24) from 7.2 per cent a year ago. The unemployment rate in the March quarter of the previous fiscal was 6.8 per cent, while it was 6.6 per cent in April-June. The rate was 7.2 per cent in the third quarter of the previous fiscal.
According to the survey, the unemployment rate among females (aged 15 years and above) in urban areas declined to 8.6 per cent in July-September from 9.4 per cent in the same quarter a year ago. It was 9.1 per cent in April-June 2023, 9.2 per cent in January-March 2023 and 9.6 per cent in October-December 2022. Among males, the unemployment rate in urban areas dipped to 6 per cent in July-September compared to 6.6 per cent in the year-ago period. It was 5.9 per cent in April-June 2023, 6 per cent in January-March 2023 and 6.5 per cent in October-December 2022.
It also stated that labour force participation rate in Current Weekly Status (CWS) in urban areas for people aged 15 years and above increased to 49.3 per cent in the July-September quarter of 2023, from 47.9 per cent in the same period a year ago. It was 48.8 per cent in April-June 2023, 48.5 per cent in January-March 2023 and 48.2 per cent in October-December 2022.
