- According to the Centre for Monitoring Indian Economy (CMIE), India’s labor market has witnessed an improvement with over 15 million people entering the workforce in the last three quarters.
- The country’s employment rate increased to 36.9% in March 2023 from 36.6% in December 2022.
- The labor participation rate (LPR) declined from 40.5% in December to 39.8% in March 2023.
- While the unemployment rate saw a small decrease from 8.3% to 7.8% during this period.
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