CNBCTV18 - The unemployment rate for the youth in the country has reduced to 12.9% in 2020-21 from 17.8% in 2017-18, Minister of State for Labour and Employment Rameswar Teli informed Parliament on Thursday. The official data on employment unemployment is collected through Periodic Labour Force Survey (PLFS). Read more
What is PLFS? Considering the importance of availability of labour force data at more frequent time intervals, National Statistical Office (NSO) launched Periodic Labour Force Survey (PLFS) in April 2017.
The objective of PLFS is primarily twofold:
To estimate the key employment and unemployment indicators (viz. Worker Population Ratio, Labour Force Participation Rate and Unemployment Rate) in the short time interval for 3 months for the urban areas only in the 'Currently Weekly Status' 9CWS).
To estimate employment and employment indicators in both 'Usual Status' and CWS in both rural and urban areas annually.
Worker Population Ratio (WPR) is the percentage of persons employed among the persons in the population. Unemployment rate (UR) is defined as the percentage of unemployed persons in the labour force.
Labour force participation ratio (LFPR) is defined as the percentage of persons in the labour force in the population (working or seeking or available for job).
Activity Status - Usual Status: The activity status of a person is determined on the basis of the activities pursued by the person during the specified reference period. When the activity status is determined on the basis of their reference period of last 365 days preceding the date of survey, it is known as the usual activity status of the person.
Current Weekly Status is the activity status determined on the basis of reference period of last 7 days preceding date of survey.
As per the latest available annual PLFS reports, the estimated unemployment rate on usual status for persons aged 15 years and above was 6%, 5.8%, 4.8% and 4.2% during 2017-18, 2018-19, 2019-20 and 2020-21 respectively.
The estimated unemployment rate on usual status for youth ages 15-29 years was 17.8%, 17.3%, 15% and 12.9% during years 2017-18, 2018-19, 2019-20 and 2020-21 respectively, which shows that unemployment rate for youth in the country has declined.
Besides several job generating initiatives, the government is also undertaking various programmes such as Make in India, Start-up India, Stand-up India, Digital India, Housing for All etc. towards generating employment opportunities. All these initiatives are expected to collectively generate employment in the medium to long term through multiplier effects.
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