The ministry of labour and employment (MoLE) on Tuesday mentioned that there had certainly been a gentle rise through the years within the labour drive participation price (LFPR) or the proportion of inhabitants both working (employed) or looking for for work (unemployed) within the nation.
“It is important to note that the complete working age population may not be working or seeking work. A substantial portion of working age population is either pursuing education or engaged in unpaid activities like production of goods for own consumption, unpaid domestic activities or caregiving services for household members, volunteering, training, etc. Thus, making an inference by some section of media that half of the working age population has lost hope for work is factually incorrect.”
In an announcement, MoLE mentioned as per the studies of the schooling ministry for 2019-20, greater than 10 crore individuals had been enrolled in secondary, greater secondary, greater or technical schooling. Majority of those college students pursuing greater schooling are within the working-age inhabitants however, all of them is probably not looking for work.
Quoting the most recent obtainable annual Periodic Labour Force Survey (PLFS) report, MoLE mentioned there had been a gentle rise in LFPR from 49.8% in 2017-18 to 50.2% in 2018-19 and additional to 53.5% in 2019-20.
“The Economic Survey 2021-22 estimates indicate there was an increase of 4.75 crore in employment during 2019-20 compared to 2018-19. The increase in labour force during 2019-20 compared to previous year was 4.52 crore. Thus, during 2019-20, more employment was generated than the increase in labour force in the country,” MoLE mentioned.
Source: www.financialexpress.com”