This has been accompanied by the creation of highquality employment opportunities, reflected in the latest Periodic Labour Survey, where positive trends can be observed across many indicators. The worker-population ratio (WPR) for people aged 15 and above increased by almost 10 percentage points from 46.8 percent in 2017-18 to 56 percent in 2022-23. Similarly, the labour force participation rate (LFPR) significantly increased over the same five-year period from 49.8 percent to 57.9 percent. This was supported by a concomitant decline in the unemployment rate from 6 percent to 3.2 percent.
This employment landscape has undergone transformative changes over the years, with the emergence of dynamic sectors and entrepreneurial ventures. A host of government initiatives directed towards fostering gainful employment has created a conducive ecosystem fostering innovation, creativity and entrepreneurial talent.
At the same time, a strong impetus has been placed on developing a future-ready, inclusive and employable workforce with relevant and up-to-date skills, supported by various skill development programmes and affirmative action policies that will continue to shape India's future of work.
This story is from the May 29, 2024 edition of The New Indian Express.
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This story is from the May 29, 2024 edition of The New Indian Express.
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