ARTICLE · 30 APRIL 2024

Analysis | India's Unemployment Rate At Record Low And Changing Labour Dynamics

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As per the SBI Research Report, India is witnessing a historic low in unemployment on account of the increased entrepreneurship at different levels of society.

IndiaEmployment and HR

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What are the key findings of the SBI Research Report on India's employment?

As per the SBI Research Report, India is witnessing a historic low in unemployment on account of the increased entrepreneurship at different levels of society. According to the report, there is an ongoing structural transformation in the labour market as more and more individuals are taking up entrepreneurship, which can possibly be attributed to the result of attaining higher levels of education by individuals.

What role does this story play for the recently released Periodic Labour Force Survey?

The results of the SBI survey are in line with the sixth annual periodic labour survey report from the National Sample Survey Office. This demonstrates the unemployment rate's significant drop from 6.1% in FY18 to 3.2% in FY23. Furthermore, there was a noteworthy rise in employee involvement, rising from 36.9% to 42.4%. In addition thereto, the gender dynamics in the labour force have also

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