Relief news for government, unemployment at 3-year low

The Statistics Ministry's National Sample Survey Organization said the unemployment rate for those aged 15 and over will fall to 3.1 percent in 2023, the lowest level in three years. According to the periodic Labor Force Survey report released by the National Sample Survey Organization (NSSO) on Tuesday, the country's unemployment rate was 3.1 percent in calendar year 2023, while it was 3.6 percent in 2022 and 4.2 percent in 2021. The unemployment rate is defined as the percentage of unemployed people in the labor force (age group above 15 years).

Male and female unemployment

According to the information, the employment situation is improving since the outbreak of the Kovid epidemic in the country in March 2020. Economic activities came to a complete standstill due to the lockdown imposed to control the epidemic. But the situation has improved due to increase in economic activities after the lifting of lockdown in the center and states.

The unemployment figure for men is 3.7 percent in 2022

The survey revealed that the unemployment rate among women has also come down to three percent in 2023. Female unemployment was 3.3 percent in 2022 and 3.4 percent in 2021. Similarly, the unemployment figure for men was 3.7 percent in 2022 and 4.5 percent in 2021, but fell to 3.2 percent last year.

Urban and rural unemployment

The overall unemployment rate in urban areas also fell to 5.2 percent in 2023. The urban unemployment rate in 2022 was 5.7 percent while in 2021 it was 6.5 percent. Similarly, the unemployment rate in rural areas declined from 2.8 percent in 2022 and 3.3 percent in 2021 to 2.4 percent last year. The labor force participation rate (LFPR) in current weekly status (CWS) of people aged 15 years and above in urban areas increased from 52.8 percent in 2022 and 51.8 percent in 2021 to 56.2 percent in 2023.