India’s Worker Population Ratio Rises to 58.2%, Unemployment Rate Drops to 3.2%

India’s Worker Population Ratio (WPR) has surged to 58.2% in 2023-24 from 46.8% in 2017-18, reflecting a significant improvement in employment levels, according to Union Minister of State for Labour and Employment, Shobha Karandlaje. The Unemployment Rate (UR) for individuals aged 15 and above also dropped sharply, from 6% to 3.2% over the same period, as reported in the Rajya Sabha on Thursday.

The data, derived from the Annual Periodic Labour Force Survey (PLFS) conducted by the Ministry of Statistics and Programme Implementation since 2017-18, underscores positive trends in India’s employment landscape. Complementing this, the Annual Survey of Unincorporated Sector Enterprises (ASUSE) revealed a rise in workers in the unincorporated non-agricultural sector, which grew from 9.79 crore in 2021-22 to 10.96 crore in 2022-23.

Formal employment also witnessed a boost, with over 7 crore net subscribers joining the Employees’ Provident Fund Organisation (EPFO) between September 2017 and September 2024. Reserve Bank of India (RBI) data further highlighted a rise in total employment to 64.33 crore in 2023-24, compared to 47.15 crore in 2014-15, marking an increase of 17.18 crore over nine years.

The government’s targeted schemes, such as the Prime Minister’s Employment Generation Programme (PMEGP), Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), and Pradhan Mantri Mudra Yojana (PMMY), were credited for driving employment and enhancing skill development. Additionally, the 2024-25 Union Budget allocated ₹2 lakh crore to create opportunities for 4.1 crore youth over the next five years.

Minister Karandlaje reaffirmed the government’s commitment to generating employment and improving employability, emphasizing the critical role of collaborative efforts across various ministries and departments in sustaining this growth trajectory.