Context:
Periodic Labour Force Survey (PLFS), carried out by the National Sample Survey Office (NSSO), has reported that unemployment rate in urban areas of the country has shown a decrease during the period April-June 2023.
Highlights of the Survey:
- Men’s unemployment rate went down from 7.1% to 5.9%.
- Women’s unemployment rate decreased from 9.5% to 9.1%.
- In urban areas, more people are participating in the workforce, increasing from 47.5% to 48.8%.
- The labour force participation rate (LFPR) and the worker-population ratio (WPR) for individuals aged 15 and above have also shown improvement.
About PLFS:
- Launched by: National Statistical Office under the Ministry of Statistics and Implementation.
- Twin Objectives –
- To estimate the key employment and unemployment indicators in the short time interval of 3 months for the urban areas only in the current weekly status (CWS).
- To estimate employment and unemployment indicators in both ‘Usual Status’ and CWS in both rural and urban areas annually.
| Exploring Terms | |
| Unemployment Rate | The unemployment rate is defined as the percentage of unemployed persons in the labour force. |
| Labour Force | The Labour force, according to Current Weekly Status (CWS), is the number of persons either employed or unemployed on an average in a week preceding the date of the survey. |
| Current Weekly Status (CWS) Approach [The urban unemployment PLFS is based on the CWS approach] | Under CWS, a person is considered unemployed if he/she did not work even for one hour on any day during the week but sought or was available for work at least for one hour on any day during the period. |
| Worker Population Ratio (WPR) | WPR is defined as the percentage of employed persons in the population. |
To read more about unemployment, click here
Source: The Hindu
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)
