Context:
Periodic Labour Force Survey (PLFS) Annual Report (July, 2023 – June, 2024) released
Highlights of the survey:
Periodic Labour Force Survey (PLFS):
- Launched in – 2017
- Released by – NSSO under the Ministry of Statistics and Implementation.
- Purpose – To estimate key employment and unemployment indicators.
- Objectives –
- Urban Areas (Quarterly) – Estimate key indicators (Worker Population Ratio, Labour Force Participation Rate, Unemployment Rate) in a short interval of 3 months using Current Weekly Status (CWS).
- Rural and Urban Areas (Annually) – Estimate employment and unemployment indicators in both Usual Status (365 days) and CWS (7 days).
- Key Indicators –
- Worker Population Ratio (WPR) – Percentage of employed persons in the population.
- Labour Force Participation Rate (LFPR) – Percentage of persons in the labor force (working, seeking, or available for work) in the population.
- Unemployment Rate (UR) – Percentage of unemployed persons among those in the labor force.
- Determined based on activities pursued by a person during the specified reference period (preceding date of survey).
Read more about Unemployment
Source: PIB
Previous Year Question
Consider the following statements:
Statement-I: In the post-pandemic recent past, many Central Banks worldwide had carried out interest rate hikes.
Statement-II: Central Banks generally assume that they have the ability to counteract the rising consumer prices via monetary policy means.
Which one of the following is correct in respect of the above statements?
[UPSC Civil Services Exam – 2023 Prelims]
(a) Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-1
(b) Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-1
(c) Statement-I is correct but Statement-II is incorrect
(d) Statement-I is incorrect but Statement-II is correct
Answer: (a)
