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Unemployment rate UPSC NOTE

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  Why in news As per the Periodic Labour Force Survey (PLFS) for the period between July 2023 and June 2024, the overall unemployment rate r...

 Why in news

  • As per the Periodic Labour Force Survey (PLFS) for the period between July 2023 and June 2024, the overall unemployment rate remains at 3.2%, unchanged from last year, raising concerns about job creation.

  • There’s a minor increase in agricultural employment, suggesting fewer opportunities in urban and manufacturing jobs.

  • Job growth in manufacturing is stagnant at 11.4%, the same as in 2012, indicating a lack of recovery.

  • Women’s workforce participation has increased, with notable rises among Muslim and Hindu women.

  • Rural unemployment has decreased (from 5.3% to 2.5%), but urban unemployment remains a concern (from 7.7% to 5.1%)

  • Economists criticize the report, noting that increased LFPR is due to unpaid family labor in agriculture rather than real job growth.

  • The shift back to agriculture indicates struggles in finding better-paying non-farm employment.

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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: Unemployment rate UPSC NOTE
Unemployment rate UPSC NOTE
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