The above is news from Indian Express. The following are some | ECONOMY by VIVEK SINGH

The above is news from Indian Express. The following are some relevant points:

Considering the importance of availability of labour force data at more frequent time intervals, National Statistical Office (NSO) launched Periodic Labour Force Survey (PLFS) in April 2017. There are primarily two objectives of PLFS:

(i) To estimate the key employment and unemployment indicators (viz. Worker Population Ratio, Labour Force Participation Rate, Unemployment Rate) in the short time interval of three months for the urban areas only

(ii) To estimate employment and unemployment indicators in both rural and urban areas annually.

The first Annual Report (July 2017- June 2018) covering both rural and urban areas giving estimates of all important parameters of employment and unemployment was released in May 2019.

This is the third Annual Report for the period July 2019 - June 2020 on PLFS released yesterday by NSO. Ans as per the report following are the highlights:

Unemployment Rate = 4.8%
Labour Force Participation Rate (LFPR) = 40.1%
Worker Population Ratio = 38.2%

Unemployment Rate (UR) is defined as the percentage of persons unemployed among the persons in the labour force. (i.e. unemployed/Labour Force)

Worker Population Ratio (WPR) is defined as the percentage of employed persons in the population. (i.e. employed/Population)

Labour Force Participation Rate (LFPR) is defined as the percentage of population in the labour force. (i.e. labour force/Population)

Point to be Noted: NSO in its annual report has provided these above definitions. So, the Labour Force Participation Rate (LFPR) definition is also as per the NSO report. BUT International Labour Organization (ILO) provides a different definition for LFPR which is "Labour Force/ Working Age Population". And this is a major difference.

From your exam point of view please use the NSO definition. I have provided ILO definition in my book but that I will also modify.... because for UPSC exam we should follow our country standards.