Labour Market Dynamics

India’s workforce is evolving through rapid structural change. While informal employment exceeds 80%, self-employment and the gig economy are rising. Women's participation is gradually improving, and youth increasingly balance work with studies—reshaping traditional employment models.

Recent Developments

  • India’s unemployment rate for individuals aged 15 and above declined from 6% in 2017-18 to 3.2% in 2023-24.
  • The Female LFPR significantly rose from 23.3% in 2017-18 to 41.7% in 2023-24, reflecting higher female participation in the workforce.
  • Youth unemployment (ages 15–29) dropped from 17.8% in 2017-18 to 10% in 2022-23.
  • Net EPFO subscription additions increased from 61.1 lakh in FY19 to 131.5 lakh in FY24, ....
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Indian Economy & Socio-economic Development