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Economy
Mahesh

02/05/22 07:32 AM IST

State of (un)employment

In News 
  • Data from the Centre for Monitoring Indian Economy (CMIE) shows that India’s labour force participation rate (LFPR) has fallen to just 40% from an already low 47% in 2016.
  • This suggests not only that more than half of India’s population in the working-age group (15 years and older) is deciding to sit out of the job market, but also that this proportion of people is increasing.
Labour Force

  • According to the Centre for Monitoring Indian Economy (CMIE), the labor force consists of persons who are of age 15 years or older, and belong to either of the following two categories:
  1. Are employed
  2. Are unemployed and willing to work and are actively looking for a job.
LPFR 
  • LFPR is defined as the percentage of persons in the labor force in the population.
  • LFPR includes those who are employed and those who are unemployed.
  • The world over, LFPR is around 60%. In India, it has been sliding over the last 10 years and has shrunk from 47% in 2016 to just 40% as of December 2021.
CMIE 
  • It is a leading business information company. It was established in 1976, primarily as an independent think tank.
  • It produces economic and business databases.
Source-Indian Express

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