The second quarter of FY24 witnessed a historic surge in women’s labor force participation, reaching an all-time high of 24%, according to official data. While this is a positive development, deeper analysis reveals nuances in the employment landscape for women.
Overall Unemployment Rate: The overall unemployment rate remained steady at 6.6%, with a marginal increase in men’s unemployment to 6% from the previous quarter’s 5.9%.
Women’s Unemployment Rate: Notably, the women’s unemployment rate dipped below 9% for the first time in five years, reflecting a positive trend.
Despite these positive trends in the labor market, there are indications that the Indian economy may have experienced a slowdown in the second quarter. The projected growth rate is 6.7%, as per a median estimate from an Economic Times poll, down from the 7.8% acceleration in the first quarter of FY24.
Shift in Job Composition: While the unemployment rate for women has decreased, concerns arise about the quality of jobs. An analysis by Economic Times indicates a shift in the composition of women in the workforce.
Comparison with Q1FY24: In contrast to the first quarter of FY24, where the share of women in regular-wage work was 39.2%, the recent data suggests a significant decline in the proportion of women in stable employment.
Q1: What is the women’s labor force participation rate in the second quarter of FY24?
A: The women’s labor force participation rate reached a record high of 24% in Q2FY24.
Q2: Has there been any change in the overall unemployment rate during this period?
A: The overall unemployment rate remained unchanged at 6.6% in Q2FY24, with a slight increase in men’s unemployment to 6% from 5.9%.
Q3: How does women’s unemployment compare to previous years?
A: Women’s unemployment rate declined to below 9% in Q2FY24, marking the first time it has dropped to this level in five years.
Q4: What is the trend in women’s labor force participation over the past quarters?
A: There is a positive trend, with the women’s labor force participation rate increasing from 23.2% in the previous quarter to the current record high of 24%.
Q5: What is the projected economic growth for India in Q2FY24?
A: The Indian economy is expected to have slowed down in the second quarter, with a projected growth rate of 6.7%, down from 7.8% in the first quarter.
Every year on December 22, India celebrates National Mathematics Day. This date marks the birth…
In competitive exams like SSC, Defence, State Exams, and Railways, current affairs are crucial. This…
On Saturday, December 21, 2024, several explosive-laden drones, believed to be part of Ukraine's ongoing…
Uttar Pradesh, one of India's most populous states, is known for its rich cultural and…
The 55th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman, convened ministers from 28…
India participated in the 24th BIMSTEC Senior Officials Meeting (SOM), hosted virtually by Thailand on…