India’s labour market was starting to lookup, regardless of a deceleration in GDP development, earlier than the Covid-19 pandemic pressured a lockdown in March. Statistics from the newest Periodic Labour Pressure Survey (PLFS) for the quarter ending December 2019 present that the city unemployment price had been declining for 4 consecutive quarters.
To make sure, a quarter-on-quarter comparability may very well be deceptive due to seasonal results on employment.
The city unemployment was 7.9% within the quarter ending December 2019, in comparison with 9.9% in the identical interval the earlier 12 months. That is consistent with the development of a decline within the unemployment price within the quarters ending June 2019 and September 2019 as nicely. The PLFS report for the quarter ending December 2019 was launched on Thursday whereas the September 2019 report was launched on October 19. The quarterly PLFS estimates can be found from the April-June 2018 quarter onwards.
Whereas unemployment amongst younger individuals (15-29 years previous) is considerably greater than the headline numbers, this too has been declining in comparison with the earlier 12 months’s ranges.
Whereas the decline within the unemployment price is comparatively smaller for younger individuals, their labour power participation price (LPFR) has grown greater than that of the older age teams within the first three quarters of 2019-20 in comparison with the corresponding durations in 2018-19.
The expansion was 2.four%, 2.four% and three.1% for the primary three quarters for individuals within the 15-29 age group whereas it was zero.6%, 1.three%, and a pair of.1% for the 15 years and above age group. LPFR measures the share of inhabitants in a given age group which is both working or in search of a job.
The estimates within the quarterly survey are primarily based on the present weekly standing of these surveyed. In such estimates, persons are thought of to be part of the labour power in the event that they labored or had been accessible or in search of work for at the least one hour within the week previous the survey.
The quarterly bulletin additionally provides the standing and trade of employment of these employed in city areas and of age 15 years and above. In October-December 2019, 50% employees had been common wage incomes or salaried employees, 38% had been self-employed and 12.1% had been informal employees.
In comparison with the identical interval in 2018, the share of the previous two elevated by 1% and zero.three%, respectively, whereas that of the latter decreased by four%.