Urban unemployment reaches 6-year low, female workforce rises
Indian Economic Updates : Urban unemployment reaches 6-year low, female workforce rises.
Urban unemployment fell to 6.4% in Q2 of FY 2024, the lowest in six years, with the labor force participation rate (LFPR) reaching a record 50.4%. Male unemployment dropped to 5.7% and female unemployment to 8.4%. The highest unemployment rates were in Jammu & Kashmir (11.8%) and Odisha (10.6%). The number of salaried workers increased, with 50% of the workforce employed in regular jobs. Female workforce participation has also risen, particularly in self-employment, though education and domestic duties still limit women’s involvement. Youth LFPR was 41.6%, with higher rates for males (59.8%) than females (21.9%).
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