Urban unemployment rate drops in Oct-Dec

Syllabus: GS-III

Subject: Economy

Topic: Unemployment & Issues.

Issue:  Unemployment

Context: The trend of decreasing unemployment rates in urban areas has been consistent throughout 2023.

Terms in News:

Worker-to-population ratio (WPR):

It measures the proportion of employed individuals within the working-age population (15-59), expressed as a percentage.

It serves as a key indicator of labour market dynamics and unemployment levels.

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Labour force participation rate (LFPR):                                          

Aims to estimate key employment and unemployment indicators, including Worker Population Ratio, Labour Force Participation Rate, and Unemployment Rate, in urban areas every three months using the ‘Current Weekly Status’ (CWS).

Additionally, it annually estimates these indicators in both rural and urban areas, considering both ‘Usual Status’ (principal status + subsidiary status) and CWS.

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