Context:
Periodic Labour Force Survey (PLFS) – Key Employment Unemployment Indicators for 2024 released
Periodic Labour Force Survey (PLFS):
- Initiated by the National Statistical Office (NSO) in April 2017.
- Objective – To provide estimates of key employment and unemployment indicators.
- Provide annual estimates for both rural and urban areas under Usual Status (PS+SS) and Current Weekly Status (CWS).
Key Findings of Latest Survey:
| Indicator | Urban Areas | Rural Areas | All – India Level |
| Labour Force Participation Rate (LFPR) | Increased from 50.3% to 51.0% overall. Male: 74.3% to 75.6% Female: 25.5% to 25.8% | Decline in unpaid helpers in household enterprises, especially among rural females, contributed to a decrease in LFPR in rural areas | Stable at 56.2% |
| Worker Population Ratio (WPR) | Improved from 47.0% to 47.6% overall. Male: 70.7% to 70.9% Female: 23.4% to 23.2% | Relatively unchanged (53.4% to 53.5%) | |
| Unemployment Rate (UR) | Stable at 6.7% overall. Male: Increased from 6.0% to 6.1% Female: Dropped from 8.9% to 8.2% | Declined from 4.3% to 4.2% | Minor drop (5% to 4.9%) |
Definitions of Keywords:
- Labour Force Participation Rate (LFPR) – Percentage of persons in the labour force (working, seeking, or available for work) in the population.
- Worker Population Ratio (WPR) – Percentage of employed persons in the population.
- Unemployment Rate (UR) – Percentage of unemployed persons among the labour force.
- Usual Status (PS+SS) – Refers to principal activity and subsidiary economic activities over the past 365 days.
- Current Weekly Status (CWS) – Refers to employment or unemployment status during the 7 days preceding the survey date
Source: PIB
Previous Year Question
Human capital formation as a concept is better explained in terms of a process which enables
1. individuals of a country to accumulate more capital.
2. increasing the knowledge, skill levels and capacities of the people of the country
3. accumulation of tangible wealth.
4. accumulation of intangible wealth
Which of the statements given above is/are correct?
[UPSC Civil Service Exam – 2018 Prelims]
(a) 1 and 2 only
(b) 2 only
(c) 2 and 4 only
(d) 1, 3 and 4 only
Answer: (c)
Explanation:
Statement 1 and statement 3 are not correct: Human Capital Formation relates to the enhancement in the abilities of humans as a resource in himself/herself and not the accumulation of capital and tangible wealth.