Monsoon Session: India’s Employment Rises to 64.33 Crore in FY24, Up from 47.5 Crore in FY18

India’s employed population surged to 64.33 crore in 2023-24, up from 47.5 crore in 2017-18, Union Minister of State for Labour & Employment Shobha Karandlaje informed the Rajya Sabha on Thursday, citing the Reserve Bank of India’s KLEMS database. This reflects a 6% employment growth in FY24, nearly double the 3.2% recorded in FY23, with 4.67 crore jobs added in the fiscal year.

The KLEMS database, covering 27 industries, reported significant sectoral gains: agriculture employed 25.3 crore people in FY23, up from 24.82 crore, while construction, trade, and transport were key job providers. The Periodic Labour Force Survey (PLFS) further showed the female Worker Population Ratio (WPR) for those aged 15 and above rising from 28.7% in 2019-20 to 40.3% in 2023-24, indicating growing women’s participation. T

he overall Labour Force Participation Rate (LFPR) increased from 49.8% to 60.1%, and the Worker Population Ratio rose from 46.8% to 58.2%, while the unemployment rate dropped from 6% to 3.2% over the same period.

The labour ministry, refuting a media report questioning jobless data accuracy, emphasized PLFS’s alignment with International Labour Organization (ILO) standards. Since January 2025, PLFS provides monthly estimates, enhancing labour market tracking. Youth unemployment fell to 10.2% in FY24, below the global 13.3% average, countering claims of widespread joblessness.

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Posts on X praised the Modi government’s policies, crediting schemes like PM Mudra Yojana and PLI for job creation, though some users raised concerns about informal job quality. The data underscores India’s robust labour market growth, driven by government initiatives, despite challenges in formal employment, with only 21% of the workforce in salaried jobs.

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