India’s Unemployment Rate Rises to 8.30% in Dec 2022

• The rise was “not as bad as it may seem,” as there was a simultaneous increase in the labour participation rate, which rose to 40.48 per cent in December, the highest in 12 months.
• Most importantly, the employment rate has increased in December to 37.1%, which again is the highest since January 2022.
• The unemployment rate had declined to 7.2% in the July-September quarter compared to 7.6% in the previous quarter, according to separate quarterly data compiled by state run National Statistical Office (NSO) and released in November.

State-wise Unemployment Rate:

In December, the unemployment rate rose to 37.4% in the northern state of Haryana, followed by 28.5% in Rajasthan and 20.8% in Delhi.

What is Labor Force Participation Rate:

Labor Force Participation Rate (LFPR) is known as the section of the working population in the age group of 16-64 in the economy currently employed or either seeking employment.