Unemployment rate in India rises to five-year high
According to the report, 77 per cent of the Indian households were reported to be having no regular wage/salaried person
Unemployment rate in India increased up to a five-year high in 2015-16, marking a 5 per cent rise in the rate this time, a Labour Bureau report has revealed.
The fifth annual employment-unemployment survey at national-level states that about 77 per cent of the Indian households were reported to be having no regular wage/salaried person.
The new figures also reveal that the unemployment rate was higher among females compared to males in the country, estimating 8.7 per cent and 4.3 per cent, respectively.
According to the report, the 5 per cent unemployment rate at all-India level was estimated under the UPS (Usual Principal Status) approach.
“In rural sector, unemployment rate was 5.1 per cent whereas in urban sector, the rate was 4.9 per cent under the UPS approach,” the report stated.
Female unemployment rate in urban areas was estimated to be 12.1 per cent compared to 3.3 per cent for males and 10.3 per cent for transgenders.
In 2013-14, unemployment rate was 4.9 per cent in India, while in 2012-13 and 2011-12 the rates were estimated as 4.7 per cent and 3.8 per cent, respectively.
However in 2014-15, Labour Bureau did not present an annual unemployment report.
Covering a total sample of 1,56,563 households, the latest survey was conducted across all states and union territories during April - December 2015.
According to the report, the highest rate of unemployment was reported in India from Tripura (19.7 per cent), while Sikkim (18.1 per cent), Lakshadweep (16.1 per cent), Andaman & Nicobar islands (12.7 per cent), Kerala (12.5 per cent) and Himachal Pradesh (10.6 per cent) were the other who ranked top in the the list.
The new findings have come as a big shock to analysts and policy makers alike as under the Prime Minister Narendra Modi's 'Make in India' flagship programme, boosting industrial production has been prioritised. However, the new findings will probably help to fact-check the stark reality of growing unemployment situation across the country.