What has been the trend in the unemployment rate for individuals aged 15 years and above from 2017-18 to 2023-24?

Correct option is D

Sol.

The correct answer is (d)

​Explanation :​

• as the unemployment rate for individuals aged 15 years and above decreased from 6.0% in 2017-18 to 3.2% in 2023-24, reflecting a steady decline in unemployment.
• This reduction highlights improvements in India’s labor market, largely driven by post-pandemic recovery, formalization of jobs, and economic policies aimed at promoting employment.
• Key Points:
• The significant drop in unemployment indicates a healthy labor market recovery and suggests better employment opportunities.
• The Female Labour Force Participation Rate (FLFPR) also increased from 23.3% in 2017-18 to 41.7% in 2023-24, reflecting the growing inclusion of women in economic activities.
• The proportion of self-employed workers has risen from 52.2% to 58.4% from 2017-18 to 2023-24, showing a shift toward entrepreneurship and flexible work arrangements.

Information Booster:

• Labour Force Participation Rate (LFPR): Increased from 49.8% in 2017-18 to 60.1% in 2023-24, showing greater participation in the labor force.
• Worker Population Ratio (WPR): Increased from 46.8% to 58.2%, indicating more individuals are employed.
• Youth Employment: Nearly 61% of net payroll additions came from individuals under 29, showing that job growth is largely driven by youth.
• Digital and Renewable Energy Sectors: These sectors offer significant job creation potential, particularly for women, boosting financial independence and empowerment.
• E-Shram Portal: Over 30.51 crore unorganised workers registered on the E-Shram portal, helping them access social security and welfare schemes.

Additional Information:

• Who Releases the Survey?
• The Periodic Labour Force Survey (PLFS) is conducted and released by the Ministry of Statistics and Programme Implementation (MoSPI), Government of India.
• The PLFS provides valuable data on employment, unemployment, and workforce participation, serving as an essential tool for policymakers and researchers.