Economy
Uttar Pradesh Chief Minister stated
that the unemployment rate in the state was more
than 17 per cent in the year 2016 and had now come down to four to five per cent.
·
The Labour Force consists of persons
who are of fifteen years of age or additional and are either of the subsequent
2 categories: are utilized are idle and are willing to figure and are actively
trying to find employment In different words, the Labour Force Participation Rate
(or LFPR)essentially provides the percentage of the working-age (15 years or
more) population thats inquiring for a job; It represents the “demand” for
jobs in an economy.
·
It includes {those who|those
that|people who} are employed and people who are unemployed.
·
The
Unemployment Rate (UER) is nothing
but the number of unemployed as a proportion of the
labour force.
·
The Employment Rate (ER) is a combination of the UER and the LFPR.
·
The ER refers to the number of employed
people as a percentage of the working-age population.
·
Lower employment rates do not signal lots of
new jobs, rather fewer people
demanding them.
·
LFPR in India is much lower
than in other large economies. Often a fall in UER is a reflection of a fall
in LFPR.
·
Alow LFPR reflects poorly on
the state of the economy.
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