At 10.2%, youth unemployment rate in India lower than global levels: Govt

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Youth unemployment rate in India stood at 10.2 percent in 2023-24, Union Minister of State for Labour and Employment Shobha Karandlaje informed the Lok Sabha this week.

This rate is lower than global levels, Karandlaje added in her written reply to lawmakers in the Lok Sabha on November 25.

As per the latest available Periodic Labour Force Survey (PLFS) report, the estimated unemployment rate for youth aged 15-29 years in the country for the year 2023-24 is 10.2 percent, which is lower than global levels. Further, the Worker Population Ratio (WPR) for youth indicating employment has increased from 31.4 percent in 2017-18 to 41.7 percent in 2023-24.

Notably, the PLFS report is the official data source of employment/ unemployment indicator in India. It is based on the annual survey conducted by the Ministry of Statistics and Programme Implementation (MoSPI).

The International Labour Organisation (ILO), in its Global Report Trends for Youth, 2022, mentioned that the worldwide youth unemployment rate was 15.6 percent in 2021. Further, as per World Employment and Social Outlook Trends, 2024, published by the ILO in 2023, the youth unemployment rate stood at 13.3 percent globally.

Additionally, the Employees’ Provident Fund Organization (EPFO) Payroll data, which also gives an idea of the level of employment in the formal sector, revealed that over 1.3 crore net subscribers joined EPFO during 2023-24. Between September 2017 and August, 2024, more than 7.03 crore net subscribers have joined EPFO, indicating increase in formalisation of employment.

All the labour force indicators are providing evidence of an improved employment scenario in the country, the Ministry of Labour and Employment said in a press release.

“Employment generation coupled with improving employability is the priority of the Government. Accordingly, the Government of India has taken various steps for generating employment in the country,” it added.