India’s unemployment rate for individuals aged 15 years and above has reached a six-year low at 3.2%, according to the Periodic Labour Force Survey Annual Report 2022-2023 released by the National Sample Survey Office (NSSO).

• This significant decline in joblessness signifies a positive trend in employment opportunities within the country. 
• The unemployment rate, often referred to as the joblessness rate, is a measure of the percentage of unemployed individuals in the labor force.
• It provides critical insights into the employment landscape of a nation. 
• To ensure more frequent and timely availability of labor force data, the NSSO initiated the Periodic Labour Force Survey (PLFS) in April 2017. 
• This survey collects comprehensive data on employment and unemployment trends in India.  
• The reference period for the latest data spans from July 2022 to June 2023. During this period, the Unemployment Rate (UR) for individuals aged 15 and above at the national level decreased to 3.2%. This marks a significant drop from the 4.1% recorded in the previous year (2021-22).