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India's Jobless Rate Dips to 4.9% in February
16 Mar
Summary
- India's unemployment rate fell to 4.9% in February.
- Rural unemployment rate remained unchanged at 4.2%.
- Female labor force participation saw a consistent increase.
India's overall unemployment rate experienced a slight reduction, settling at 4.9% in February, as indicated by recent data. This stability was achieved despite a stagnant rural unemployment rate of 4.2%, while urban unemployment saw a decrease from 7% to 6.6%. The data, released by the Ministry of Statistics, covers individuals aged 15 years and above.
The Labour Force Participation Rate (LFPR) for the working-age population remained consistent at 55.9% in February. Significant positive movement was observed in female labor force participation, which saw a steady increase in both rural and urban settings, contributing to an overall LFPR rise to 35.3% for women.
Furthermore, the unemployment rate among females declined to 5.1% in February from 5.6% in January, largely influenced by a drop in urban female unemployment. The Worker Population Ratio (WPR) for the period was 53.2%, with steady rates observed in both urban and rural areas. The Periodic Labour Force Survey is the primary data source for these employment statistics.
