India’s unemployment rate hits a 45 year high of 6.1% in 2017-18

As per the National Sample Survey Office’s (NSSO’s) periodic labor force survey (PLFS), India’s unemployment rate hit a 45 year high of 6.1% in 2017-18. The latest data on unemployment in India is the first comprehensive survey on employment conducted by a government agency after Prime Minister Narendra Modi announced demonetisation move in November 2016. The report, which is yet to come in public domain, stated that this level of unemployment was last seen in 1972-73. According to the survey, the rate of unemployment among rural males in the age group of 15-29 years was at 17.4%, more than three times the 2011-12 rate of 5%. A similar trend was seen in females in the same age group, where the rate jumped from 4.8% in 2011-12 to 13.6% in 2017-18. The rate of joblessness for urban youths was a whopping 18.7% for males and 27.2% for females.