Unemployment rate remains unchanged at 3.2% from July 2023 to June 2024

Unemployment rate for persons aged 15 years and above has remained unchanged at 3.2 per cent in July 2023 to June 2024, according to the labour force survey annual report released on Monday. The unemployment rate (UR) is defined as the percentage of persons unemployed among the persons in the labour force. The report stated that while the UR for male has shown a marginal decline from 3.3 per cent during July 2022 June 2023 to 3.2 per per cent during July 2023 June 2024, among female it has increased from 2.9 per cent to 3.2 per cent during the same time span. Labour Force Participation Rate (LFPR) in usual status for persons of age 15 years and above was 60.1 per cent during July 2023 - June 2024 higher than 57.9 per cent in the previous year. The same for male and female was 78.8 per cent and 41.7 per cent, respectively. LFPR is defined as the percentage of persons in labour force (i.e. working or seeking or available for work) in the population. LFPR for female of age 15 year