After 5 yrs of decline, India's unemployment rate stuck at 3.2%
For youth aged 15-29, the unemployment rate stood at 10.2%; urban female youth experienced the highest unemployment rate at 20.1%
For youth aged 15-29, the unemployment rate stood at 10.2%; urban female youth experienced the highest unemployment rate at 20.1%
A "steady rise" recorded in labour force rarticipation rate among urban residents, with figures climbing from 48.2% to 49.9%.
The country's job crisis is structural and systemic; reliance on high growth and manufacturing has simply not worked.
Demand for work under MGNREGS was at its lowest in October 2022 in this fiscal so far, signalling a decline in unemployment rate in rural areas, says the ministry.
As formal and well-paying jobs continue to disappear, reverse migration to informal and low-paying work could hit economic growth.