Jammu, Apr 5: According to the Economic Survey Report 2022-23, Jammu and Kashmir’s unemployment rate has dropped from 6.7% in 2019-20 to 5.2% in 2021-22. The report also revealed that the urban unemployment rate decreased by 1.1 percentage points. The labor force participation rate has increased to 61.5% in 2021-22 from 56.3% in 2019-20, while the worker population ratio has risen to 58.3% in 2021-22 from 52.5% in 2019-20.
The report noted that the labor force participation rate and worker population ratio have increased at the national level as well, with rates of 55.2% and 52.9% in 2021-22 respectively, up from 53.5% and 50.9% in 2019-20. Moreover, the urban unemployment rate for Jammu and Kashmir has declined to 13.5% in October-December 2022, from 14.4% in October-December 2021.
The Jammu and Kashmir government is working to improve the lives of workers by promoting their welfare and providing social security in both organised and unorganised sectors. The report also highlights the Mission Youth initiative, which aims to empower youth through interventions in the domains of livelihood generation, education, skill development, psychotherapy, social engagement, sports and recreation. The Youth Volunteer Programme has already formed more than 5,000 youth clubs to tackle social issues like drug addiction.
Finally, the new skill development policy aims to provide a framework that aligns with common standards and links skilling with demand centers. The policy has introduced 78 new job-oriented trade units in ITIs and heritage craft trades.
Overall, the Economic Survey Report shows a decline in unemployment rates in Jammu and Kashmir, along with improvements in labor force participation and worker population ratios, indicating a positive trend in the region’s economy.
