Union Labour Minister Predicts Further Drop in Unemployment Rates

Union Labour Minister Mansukh Mandaviya stated that the unemployment rate in India is set to fall below 3%, highlighting significant employment growth under Prime Minister Narendra Modi's government. Current unemployment stands at 3.2%, down from 6% during 2017-18. Labour force participation has increased to 44%, with the work-population ratio at 40% from prior years.

Union Labour Minister Mansukh Mandaviya assured there is no need for concern regarding job losses, adding that the country's unemployment rate is projected to drop below 3% in the near future.

Mandaviya, speaking during Question Hour in the Lok Sabha, noted that the current unemployment rate of 3.2% is a marked decrease from 6% in the 2017-18 period due to employment generation initiatives under Prime Minister Narendra Modi's administration. He reported an increase in labour force participation to 44%, up from 38% in 2017-18, while the work-population ratio has climbed to 40% from 31% in the same period.

In response to further questions, the Minister reiterated that the unemployment rate, which stood at 6% in 2017-18, has fallen to 3.2% and is expected to decrease further to below 3%, emphasizing that concerns about job losses are unfounded.

(With inputs from agencies.)