NSO Survey Reveals Unemployment Rate Declines to 6.5% in Final Quarter of 2023
According to the latest Periodic Labour Force Survey (PLFS) by the National Sample Survey Office (NSSO), India saw a decrease in urban unemployment rate from 7.2% to 6.5% between Oct-Dec 2022 and Oct-Dec 2023 for individuals aged 15 years and above. Male unemployment dipped from 6.5% to 5.8%, and female unemployment dropped from 9.6% to 8.6% in the same period. The survey also revealed a surge in labour force participation in urban areas, with rates climbing from 48.2% to 49.9%. Female labour force participation increased from 22.3% to 25% between Oct-Dec 2022 and Oct-Dec 2023. The worker population ratio (WPR) for those aged 15 years or more rose from 44.7% in Oct-Dec 2022 to 46.6% in the same period the next year, reflecting the upward trajectory in employment participation rates. The NSO survey targets mostly urban areas for estimating key indicators such as worker population ratio, labour force participation rate, and unemployment rate.
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