Unemployment Rate In Urban Areas Falls To 6.5% In October-December 2023: Government Data
The labour force participation rate in urban areas increased to 49.9% from 48.2% in October-December 2022.
Unemployment rate continues to ease in urban areas, while the labour force participation is on the rise.
Unemployment rate in urban areas decreased to 6.5% in October-December 2023 from 7.2% during the same period in 2022, for persons aged 15 years and above, according to the quarterly labour force survey for October-December 2023, published on Monday.
For males, the unemployment rate decreased to 5.8% from 6.5% in October-December 2022; while for females, it fell to 8.6% from 9.6% over the same period last year.
Labour Force Participation Continues To Rise
The labour force participation rate in urban areas increased to 49.9% from 48.2% in October-December 2022 for persons aged 15 years and above. While for males, the LFPR increased to 74.1% from 73.3% during this period; for females, it rose to 25% from 22.3% during this period.
LFPR is defined as the percentage of persons in the labour force—i.e. working or seeking or available for work—in the population.
