![Unemployment rate drops to 6.5% in Oct-Dec 2023: NSO survey](https://images.assettype.com/fortuneindia%2F2020-03%2Fbb77e53a-11d2-498e-8056-5431ece8792c%2FMigrant_labourers_return_to_villages.jpg?rect=0,0,4316,2158&w=300&q=95)
Unemployment rate drops to 6.5% in Oct-Dec 2023: NSO survey
A "steady rise" recorded in labour force rarticipation rate among urban residents, with figures climbing from 48.2% to 49.9%.
A "steady rise" recorded in labour force rarticipation rate among urban residents, with figures climbing from 48.2% to 49.9%.
The country's job crisis is structural and systemic; reliance on high growth and manufacturing has simply not worked.
Demand for work under MGNREGS was at its lowest in October 2022 in this fiscal so far, signalling a decline in unemployment rate in rural areas, says the ministry.
As formal and well-paying jobs continue to disappear, reverse migration to informal and low-paying work could hit economic growth.