According to NSSO, the unemployment rate for urban residents aged 15 and over decreased to 6.4%

Current Context: The National Sample Survey Office (NSSO) released this data on November 18, 2024. It showed that the unemployment rate for urban residents aged 15 and over decreased to 6.4% for the July-September quarter of 2024.

• This reflects a slight improvement from the 6.6% reported in the previous quarter, April-June 2024.
• Factors contributing to this decrease could include economic recovery efforts, government initiatives, growth in key industries, skill development programs, and a thriving start-up ecosystem.
• There are also noticeable differences in unemployment rates between males and females, with the rate for males dropping to 5.7% and for females to 8.4%.
• The labor force participation rate also increased to 50.4%, indicating more people are either employed or actively seeking work.

Question:

1 What was the unemployment rate for urban residents aged 15 and over in the July-September 2024 quarter as reported by the National Sample Survey Office (NSSO)?

• A) 6.4%
• B) 5.4%
• C) 6.6%
• D) 7.4%

Answer: A) The National Sample Survey Office (NSSO) reported that the unemployment rate for urban residents aged 15 and over decreased to 6.4% for the July-September 2024 quarter, showing a slight improvement from 6.6% in the previous quarter.