The unemployment rate for people aged 15 and over in urban areas fell to 7.2% between July and September 2022, from 9.8% a year earlier, the National Statistics Office (NSO) said today.
Unemployment rate or unemployment rate is defined as the percentage of the labor force that is unemployed. The high unemployment rate for July-September 2021 is largely due to the alarming impact of the country’s Covid-related restrictions.
The latest data, based on regular labor force surveys, showed a decline in the unemployment rate as the labor force participation rate improved, suggesting the economy is continuing to recover from the shadow of the pandemic.
According to the 16th Periodic Labor Force Survey (PLFS), the unemployment rate for the population aged 15 and over in urban areas is 7.6% from April to June 2022.
It also showed that the unemployment rate for women (aged 15 and over) in urban areas fell to 9.4% in July-September 2022 from 11.6% a year earlier. 9.5% for April-June 2022.
Among men, the unemployment rate in urban areas fell to 6.6% in July-September 2022, from 9.3% a year earlier. 7.1% in April-June 2022.
The CWS (Current Weekly Status) labor force participation rate for the urban population aged 15 and over rose to 47.9% in the July-September quarter of 2022 from 46.9% in the same period last year. 47.5% in April-June 2022.
The labor force is that portion of the population that provides or is willing to provide labor to engage in economic activities that produce goods and services, and thus includes employed and unemployed persons.
NSO launched PLFS in April 2017. On the basis of the PLFS, a quarterly bulletin is published with estimates of labor force indicators, namely the unemployment rate, worker population ratio (WPR), labor force participation rate (LFPR), broad distribution of workers in CWS employment and job industries .
The CWS Unemployment Estimate gives an average of unemployment for just seven days during the survey period.
In the CWS method, a person is considered unemployed if they do not work even one hour on any day of the week, but seek or are available to work at least one hour on any day of the week.
According to CWS, the labor force is the average number of employed or unemployed persons in the week preceding the survey date. LFPR is defined as the percentage of the population in the labor force.
The WPR (percentage) for those aged 15 and over in CWS in urban areas is 44.5% from July to September 2022, up from 42.3% in the same period last year. 43.9% in April-June 2022.
Fifteen PLFS quarterly reports corresponding to the quarters ending December 2018 to the quarters ending June 2022 have been published. The current quarterly report is the 16th in the series for the July-September 2022 quarter.
(Aside from the title, this story is unedited by NDTV staff and published via a syndicated feed.)
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