NEW DELHI: Unemployment rate in the nation declined by 1.2% from 2017-18 to 2019-20, minister of labour and employment Bhupender Yadav knowledgeable the Parliament on Monday.
Yadav made the assertion by citing knowledge from the Periodic Labour Force Survey (PLFS) in response to a question posed by Bharatiya Janata Party lawmaker Debasree Chaudhuri, in which she sought to know whether or not the central authorities took observe of the excessive unemployment rate amongst youth in India, each graduates and non-graduates.
“The data indicates that unemployment rate on usual status for the persons of age 15 years and above declined for all education levels, except for graduates. The unemployment rate for graduates is almost stable for the past three years,” Yadav mentioned in a written assertion.
According to the info shared by Yadav, the unemployment rate in 2019-20 fell to 4.8% from 5.8% in 2018-19. The unemployment rate in 2017-18 was 6%, whereas it rose to 17.2% in 2019-20 from 16.9% in 2018-19 amongst graduates.
Speaking through the Question Hour in Lok Sabha, he mentioned that there was a rise in the rate of employment as the federal government has taken “satisfactory and proper” steps for it. An improve in the employment rate, in addition to employment alternatives, may be seen if PLFS and one other survey carried out by the labour bureau is matched with the workers’ provident fund organisation (EPFO) payroll knowledge.
He attributed the “increase” in the employment rate and alternatives to numerous schemes and different programmes launched by the Union authorities below a number of ministries and departments.
Yadav additionally listed a few of these schemes, together with Make in India, Atal Mission for Rejuvenation and Urban Transformation, National Smart Cities Mission, PM Awas Yojna, PM Gati Shakti, and Swaccha Bharat Abhiyan.
India’s unemployment rate reached a six-month excessive of 8.10% in February as in comparison with 6.57% and 7.91% in January and December, respectively, in keeping with knowledge from the Centre for Monitoring Indian Economy (CMIE).
This was the very best since August final year (8.3%), the CMIE knowledge acknowledged.