India's employment sector has registered impressive expansion over the past six years, as data from the Reserve Bank of India (RBI) indicated a remarkable increase in the number of employed people to 64.33 crore in FY24 from 47.5 crore in FY18. The rise aligns with positive developments in employment-related indicators, including workforce participation and reduced unemployment rates.
As per official data shared in Parliament, India created 16.83 crore jobs between 2017-18 and 2023-24, bringing the total employed population to 64.33 crore. The figures, released through the RBI’s KLEMS database, reflect all-India employment estimates including various sectors such as manufacturing and services. This significant increase highlights consistent economic activity and workforce absorption across multiple industries.
Labour market indicators released via the Periodic Labour Force Survey (PLFS) further confirm the improving employment landscape. The Labour Force Participation Rate (LFPR) for individuals aged 15 and above rose from 49.8% in FY18 to 60.1% in FY24, indicating greater engagement in economic activity. The Worker Population Ratio (WPR) also improved from 46.8% to 58.2% in the same period.
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The Female Worker Population Ratio has shown strong growth over five years, rising steadily from 28.7% in FY20 to 40.3% in FY24. Improved education, policy incentives, and inclusion initiatives may have contributed to this shift, reflecting increased gender diversity in employment trends.
The overall Unemployment Rate (UR) fell significantly from 6% in FY18 to 3.2% in FY24. Meanwhile, youth unemployment saw a decline from 17.8% to 10.2%, dipping below the global average of 13.3%. These improvements mirror a more inclusive and productive labour ecosystem, with youth engagement on the rise.
India’s job market has demonstrated sustained progress, evident in the increase of over 16 crore employed individuals between FY18 and FY24. Coupled with rising workforce participation and falling unemployment rates, the data affirms strengthening economic traction and broader labour market inclusion.
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Published on: Jul 25, 2025, 2:04 PM IST
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