There is always discussion about employment in the country. You will find many such hashtags trending on social media, in which youth are writing on employment related issues. However, in the meantime there is good news for the youth living in urban areas. According to data released by the National Statistical Office (NSO), the unemployment rate in urban areas has fallen to a record low of 6.4 percent during July-September 2024.
What is in the NSO report
The National Statistical Office (NSO) has recently released the data regarding unemployment rate, stating that during July-September 2024, the unemployment rate in urban areas has decreased to 6.4 percent. In the last quarter it was 6.6 percent and a year ago also it was 6.6 percent.
The Period Based Labor Force Survey (PLFS) data released on Monday showed that this decline is the lowest since April-June 2018. However, an increase has been observed in the Labor Force Participation Rate (LFPR) and Worker Population Ratio.
The number of people looking for work increased
On one hand, the unemployment rate in urban areas has decreased to a record low level. On the other hand, the number of people looking for employment has increased. In the July-September quarter, the number of such people has increased to 50.4 percent, which is the highest level in itself.
Unemployment rate also decreased for women
According to gender-based data released by the National Statistical Office (NSO), the unemployment rate for women stood at a record low of 8.4 per cent in July-September. However, this was the fifth consecutive quarter when the female unemployment rate remained above 8 percent. If we talk about men, the unemployment rate for them was 5.7 percent in July-September, which was 5.8 percent in the previous quarter and 6 percent a year ago.
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