NEW DELHI (Reuters) – India’s urban joblessness rate in between January and March this year was up to 9.3%, the lowest in a minimum of four quarters, according to an unpublished federal government report reviewed by Reuters.
The numbers, recorded in the statistics ministry’s quarterly jobs report, might provide some relief to Prime Minister Narendra Modi who has dealt with criticism for not being able to produce enough tasks in the middle of slowing economic development.
The metropolitan unemployment rate of the January-March quarter compared to 9.9% in the preceding quarter. Quarterly data prior to the April-June 2018 study duration is not available and the January-March quarter’s rate is the most affordable because then.
The report, which is likely to be published quickly, did not examine rural unemployment.
The estimates were reached using the so-called “current weekly status” approach which provides a typical photo of unemployment in a short period of seven days preceding the survey duration, the document stated. A person is considered as out of work in a week if he did not work even for 1 hour during that week.
Joblessness among the youth – those aged between 15-29 years and who account for roughly over a 3rd of India’s 1.3 billion individuals – was also marginally lower at 22.5% in the quarter ending March 2019, from 23.7% in the preceding quarter.
The Indian government has in current years dealt with public ire for not releasing comprehensive tasks information frequently.
The first comprehensive annual report for the July 2017-June 2018 period, leaked in February and released in business Standard newspaper, revealed joblessness rate was the greatest in at least 45 years. Modi’s government officially launched the report in May.
That month, the statistics department also released one set of quarterly urban joblessness reports that exposed data for April to December 2018. The latest report, examined by Reuters, consists of tasks assessment for the first quarter of this year.
The fall in the unemployment rate, by weekly status methodology basis, came as work amongst routine wage workers and an area of self-employed workers increased during the duration, the stats ministry report revealed.
Still, the workforce involvement rate – the percentage of population making up the workforce – which had slowly edged up in between April and December in 2015, recorded a dip to 36% throughout the March quarter, the report showed, possibly reflecting weak economic growth in Asia’s 3rd biggest economy.
India’s financial growth was up to an over four-year low of 5.8% in the January-March period. Consequently, it fell further to 5% in the following quarter.
Reporting by Sudarshan Vardhan and Aftab Ahmed; Editing by Aditya Kalra and Muralikumar Anantharaman
The metropolitan unemployment rate of the January-March quarter compared with 9.9% in the preceding quarter. The very first extensive yearly report for the July 2017-June 2018 duration, dripped in February and published in the Business Standard newspaper, revealed joblessness rate was the highest in at least 45 years. That month, the statistics department also launched one set of quarterly city unemployment reports that exposed data for April to December 2018.