Union Labour Minister Mansukh Mandaviya reassured that there is no reason to worry about job losses. Addressing the Lok Sabha during Question Hour, he emphasized that the unemployment rate, currently at 3.2%, is expected to decline further below 3% shortly.
Mansukh Mandaviya: Significant Improvement in Employment Rates
Mandaviya noted that the unemployment rate has decreased from 6% in the 2017-18 period to 3.2% now, reflecting substantial progress in employment generation under Prime Minister Narendra Modi’s administration. This drop highlights the government’s success in addressing job market challenges.
Increased Labour Force Participation
The Minister highlighted an increase in labor force participation, which has risen to 44% from 38% since 2017-18. Additionally, the work-population ratio improved from 31% to 40% during the same period, showcasing an expansion in employment opportunities and economic engagement.
Optimistic Future Outlook
Mandaviya further assured that there is no lack of job opportunities and reiterated that the current and future employment scenario remains positive. With ongoing efforts to enhance job creation and economic growth, the unemployment rate is projected to continue its downward trend.
