Overview

• Employment reached 64.33 crore in 2023–24, up from 47.5 crore in 2017–18, reflecting a net addition of 16.83 crore jobs.
• The national unemployment rate dropped to 3.2% in 2023–24, with youth unemployment easing to 10.2% from 17.8%.
• PLFS shows near‑term gains, with the LFPR rising from 54.2% in June 2025 to 55% in August and the WPR increasing from 51.2% to 52.2%.
• Formalisation strengthened as EPFO recorded over 1.29 crore net subscribers in 2024–25 and 7.73 crore cumulatively since 2017, with 21.04 lakh added in July 2025 and 60% of new subscribers aged 18–25.
• Earnings improved as salaried workers’ average monthly pay rose to Rs 21,103 from Rs 16,538 since 2017, while casual daily wages increased to Rs 433 from Rs 294, alongside a shift toward more self‑employment and less casual labour.