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The stellar growth in GDP in the first quarter also translated into better employment numbers for the economy, according to a government survey released on Monday.. The unemployment rate in urban areas for people aged 15 years and above declined to 6.6% in the April-June quarter compared with 6.8% in the previous quarter and 7.6% in Q1FY23, according to the quarterly periodic labour force survey report released by the National Statistical Office of the government...
The improving employment situation in the country also translated into an improvement in female labour force participation in urban areas to 23.2% from 22.7% in the previous quarter...
In an interview with ET last week, Auguste Tano Kouam, World Banks country director for India, noted that increasing female labour force participation was necessary to achieve an 8% growth rate, which is needed to become a developed economy by 2047...
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