Question 1 · 10 marks · 152 words written
Opening · a definition
The Periodic Labour Force Survey is an annual survey undertaken by NSO to measure the labour force participation rate in the country.
Body · points
Recent changes made -
- Revitalising the PLFS by changing the assessment parameters. The current weekly status combined will be released on monthly basis.
- The current weekly status and Monthly Status in rural, urban and rural-urban will be released on quaterly basis.
- Improving the base and make the data more relevant and timely.
Significance
- Able to capture the current changes in the employment status.
- More efficient for policy formulation to regulate & control the unemployment rate.
- The monthly & quartely data of rural & urban will help to measure the unemployment in these areas effectively.
- The present unemployment rate stood @ 3.2% (2022-23) signifies India's growing trajectory to control it.
Close · a summary
Thus changes in the PLFS will help better capture of unemployment and better management.