India's Unemployment Rate Will Fall Below 3% In Future: Mansukh Mandaviya

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% in the future.

The current unemployment rate is 3.2%. It came down from 6% 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% from 38% in 2017-18 while the work-population ratio rose to 40% from 31% during the same period, he said.

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

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