Which of the following correctly define the way the unemployment rate is calculated in India?
The percentage of persons unemployed among the persons in the labour force
The correct answer is The percentage of persons unemployed among the persons in the labour force.
Usual Status (PS+SS): Measures unemployment for those who were unemployed for a relatively longer period during the reference year. Current Weekly Status (CWS): Measures unemployment for those who did not work even for one hour on any day during the reference week but were available for work anytime during the week and were seeking work. Importance: The unemployment rate is a vital indicator for policymakers to assess the health of the labour market and design policies related to employment generation and social welfare.
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