India’s labour market metrics deteriorates in March as employment in construction, retail trade drops
CMIIE’s weekly labour market analysis shows that the labour markets have been weak especially during the last quarter of 2022-23. While the LPR fell from 40.5% in December to 39.8% in March 2023, the unemployment rate fell marginally from 8.3% to 7.8% while the employment rate fell from 37.1% in December 2022 to 36.7% by March 2023.
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