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Labour markets, employment recover beyond pre-Covid level: Economic Survey ...Middle East
Labour markets and employment recovered beyond pre-Covid level with sustained effort in last few years, including world's largest vaccination drive in India, said the Economic Survey 2022-23. The document tabled in the Parliament on Tuesday said, "Labour markets have recovered beyond pre-Covid levels, in both urban and rural areas, as observed in supply-side and demand-side employment data." Quarterly urban employment data shows progress beyond pre-pandemic levels as the unemployment rate declined from 8.3 per cent in July-September 2019 to 7.2 per cent in July-September 2022. Reflecting rising formalisation of employment, net addition to EPFO payroll is steadily moving upward after swiftly
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