The unemployment rate in India fell to 7.7% in May 2023 due to a decline in the labour participation at 441.9 million, according to a data released by private economic think tank Centre for Monitoring Indian Economy(CMIE).
* Unemployment rate in India among people aged 15 years and above fell to 7.7% in May 2023, from 8.5% in the previous month (April 2023), CMIE's Natasha Somayya K said in an analysis on its website.
* The unemployment rate inched down as a consequence of a fall in the labour participation, which implies a fall in the number of people who entered the labour market in search of work.
* Compared to April, labour participation rate (LPR) fell by 1.1% point to 39.6% in May 2023.
* There were around 147 million people in the urban labour force in April 2023, which inched down to 142.5 million in May 2023.
* According to the CMIE data, the urban labour market recorded a fall in the number of employed as well as unemployed people.
* The 4.5 million fewer people in the urban labour force in May was the result of a combination of a decline in jobs by around 2.4 million and a fall in the number of unemployed in urban India by 2.1 million.
* This resulted in a total of 129.5 million people in the urban workforce, and around 13 million unemployed persons, it added.
* The rural labour force reduced to 299.4 million in May from 306.5 million in the April 2023.