Unemployment rate at 3.2%, will come down below 3% in future: Mansukh Mandaviya

The Labour Minister said that the labour force participation has gone up to 44% from 38% in 2017-18 while the work-population ratio rose to 40% from 31% during the same period.

New Delhi: There is no need for concern about job losses, Union Labour Minister Mansukh Mandaviya said on Monday and added that the country's unemployment rate would come down below 3 per cent in the future.

The current unemployment rate is 3.2 per cent. It came down from 6 per cent in the 2017-18 period as employment generation has taken place under the Prime Minister Narendra Modi-led government, Mandaviya said during Question Hour in the Lok Sabha.

The labour force participation has gone up to 44 per cent from 38 per cent in 2017-18 while the work-population ratio rose to 40 per cent from 31 per cent during the same period, he said.

In response to supplementaries, the minister also said the unemployment rate, which was at 6 per cent in 2017-18, had fallen to 3.2 per cent and would come down further to below 3 per cent.

There is no need for concern about job losses and there is no lack of jobs, Mandaviya added.