The unemployment rate in urban areas slowed to 9.4% in the three-month period ending March in the 2020-21 financial year, according to a newspaper report. The unemployment rate had stayed in double digits in the previous three quarters.
Quoting from the findings of the Periodic Labour Force Survey (PLFS), the Times of India reported that the unemployment rate for females of all ages declined to 11.8% in the January-March quarter from 13.1% in the previous quarter.
The National Statistical Office has released the quarterly bulletin of the PLFS for the January-March quarter. The NSO launched the PLFS to estimate the employment and unemployment indicators in the short time interval of three months for urban areas. The annual PLFS report covers both rural and urban areas.
The unemployment rate is defined as the percentage of persons unemployed in the labour force. The overall unemployment rate for all ages was at 9.1%. It had touched 20.9% in the April-June quarter of 2020 following the strict lockdown imposed to prevent the spread of Covid. The high rate had caused concerns about the employment situation in the country.
There was improvement visible after the resumption of economic activities. Unemployment rate, however, remains in double digits in several states.
The Times of India quoted Soumya Kanti Ghosh, group chief economic advisor at State Bank of India, as saying that the overall unemployment rate has improved to 9.4% in the January-March quarter, but state-wise data indicate a mixed picture with some of the advanced states witnessing double-digit unemployment rate. Decline in female unemployment rate outpacing male unemployment rate is a positive, he added.
Download Money9 App for the latest updates on Personal Finance.