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Unemployment rate highest in 45 years, shows Centre’s ‘buried’: report

New Delhi: According to the National Sample Survey Office’s Periodic Labour Force Survey, the unemployment rate in India was recordeed at a 45-year-high of 6.1 per cent in 2017-’18. It was first full financial year after the government demonetised high-value currency notes in November 2016. However, the report is still not public.
It was the first survey on employment by a government agency since demonetisation .
Two independent members of the National Statistical Commission had resigned after the government allegedly failed to publish the report that was prepared last month.
A day just before the govenment's interim budget, the report was revealed, with the opposition targeting the government on jobs data.
The report shows that unemployment rate was at its highest since the 1972-1973 period, from when the employment data is comparable. In comparison, the unemployment rate stood at 2.2 per cent in 2011-2012, during the United Progressive Alliance’s second term, according to the survey.
The report showed that the unemployment rate among the youth was at a higher level compared to previous years and “much higher compared to that in the overall population”.
According to survey, the rate of unemployment among men in rural areas between the ages of 15 and 29 years jumped to 17.4 per cent in 2017-2018 compared to 5 per cent in 2011-2012.
The unemployment rate among women in rural areas stood at 13.6 per cent in 2017-2018 compared to 4.8 per cent in 2011-2012.
Among youth, unemployment in urban areas was higher than in rural areas – 18.7 per cent for men and 27.2 per cent for women in 2017-2018.
For educated women in rural areas, unemployment was at 17.3 per cent in 2017-2018 compared to 9.7 per cent -15.2 per cent during 2004-2005 to 2011-2012.
For educated men in rural areas, the unemployment rose to 10.5 per cent in 2017-2018 compared to 3.5 per cent to 4.4 per cent during 2004-2005 to 2011-2012.
The labour force participation rate, which is the proportion of population working or seeking jobs, declined from 39.5per cent in 2011-2012 to 36.9 per cent in 2017-2018.

 

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