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According to the employment trends in India mentioned in the text, what has been the trend in the unemployment rate (UR) under the Current Weekly Status (CWS) over the past three years?
  • a)
    Consistent increase
  • b)
    Consistent decrease
  • c)
    Fluctuating with no clear trend
  • d)
    Unchanged
Correct answer is option 'B'. Can you explain this answer?
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According to the employment trends in India mentioned in the text, wha...
The text indicates that the unemployment rate (UR) under the Current Weekly Status (CWS) has decreased for the third consecutive year since April 2017.
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According to the employment trends in India mentioned in the text, wha...
Unemployment Rate (UR) under Current Weekly Status (CWS) in India

The correct answer is option 'B' - Consistent decrease.

Explanation:
Over the past three years, the unemployment rate (UR) under the Current Weekly Status (CWS) in India has consistently decreased. This trend can be attributed to several factors:

1. Economic Growth:
India has experienced significant economic growth in recent years, which has created more job opportunities and reduced the unemployment rate. The country has been focusing on various sectors such as manufacturing, service, and agriculture, resulting in increased employment opportunities.

2. Government Initiatives:
The Indian government has implemented various initiatives and policies to promote job creation and reduce unemployment. Programs like Make in India, Skill India, and Startup India have been launched to encourage entrepreneurship, skill development, and foreign investment, leading to more employment opportunities.

3. Increased Labor Force Participation:
The labor force participation rate has increased in India, meaning more individuals are actively seeking employment. This can be attributed to improved education and awareness, especially among women, who are now more inclined to enter the workforce.

4. Infrastructure Development:
India has invested significantly in infrastructure development, including transportation, telecommunications, and digital connectivity. This has resulted in the growth of industries, attracting investments and creating more job opportunities.

5. Demographic Dividend:
India has a young and growing population, which is often referred to as a demographic dividend. This means that there is a large working-age population, which, if properly skilled and employed, can contribute to economic growth and reduce unemployment.

Overall, the consistent decrease in the unemployment rate under the Current Weekly Status (CWS) in India over the past three years is a positive trend. It indicates the progress made in job creation and economic development. However, it is important to continue implementing policies and initiatives to sustain this trend and ensure inclusive growth for all segments of society.
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Directions: Read the passage and answer the question.Monthly measurement of the unemployment rate is one of the requirements of the Special Data Dissemination Standard (SDDS) of the International Monetary Fund (IMF). The SDDS — India was one of the early signatories — was established in 1996 to help countries access the international capital markets by providing adequate economic and financial information publicly. [A] India complies with many requirements of the SDDS, but it has taken an exception with respect to the measurement of unemployment.The Government of India does not produce any measure of monthly unemployment rate, nor does it have any plans to do so. [B] Official plans to measure unemployment at an annual and quarterly frequency is in a shambles. This does not befit India's claims to be the fastest growing economy and as the biggest beneficiary of a famed demographic dividend.The Centre for Monitoring India Economy (CMIE), a private enterprise, has demonstrated over the past three years that fast frequency measures of unemployment can be made and that seeking an exception on SDDS compliance is unnecessary.The CMIE decided to fill India's gap in generating fast frequency measures of household well-being in 2014. In its household survey, called the Consumer Pyramids Household Survey (CPHS), the sample size was 172,365 as compared to that of the official National Sample Survey Organisation (NSSO), which was 101,724. In both surveys, the sample selection method has been broadly the same.The CPHS is comprehensive, surveying its entire sample every four months. Each survey is a wave. The CPHS is also a continuous survey, and so, for example, three waves are completed in a year. The CMIE's CPHS thus has a much larger sample and is conducted at a much higher frequency than the NSSO's.Further, the CPHS is conducted as face-to-face interviews necessarily using GPS-enabled smartphones or tablets. Intense validation systems ensure high fidelity of data capture. [C] All validations are conducted in real-time although the teams are in the field. The data capture machinery ensures delivery of high quality data in real time obviating the need for any further "cleaning", post field operations.Once the data is collected and validated in real-time, it is automatically deployed for estimations without any human intervention.In 2016, the CMIE added questions regarding employment/unemployment to the CPHS. Since then, the CMIE has been generating labour market indicators regularly and making these freely available for public use.A difference between the CPHS and the NSSO surveys is the reference period of the employment status of a respondent. While the NSSO tries to capture the status for an entire year and for a week, the CPHS captures the status as on the day of the survey. This could be as one of four factors: employed; unemployed willing to work and actively looking for a job; unemployed willing to work but not actively looking for a job, and unemployed but neither willing nor looking for a job.Since the recall period in the CPHS is of the day of the survey (or the immediate preceding day in the case of daily wage labourers) and the classification is elementary, the CPHS has been able to capture the status fairly accurately with no challenges of the respondent's ability to recall or interpret the status. In contrast, the NSSO's system is quite complex.The large CPHS sample is distributed evenly across rural and urban regions for every week of the execution cycle of 16 weeks of a wave. It is this machinery that enables us to understand the Indian labour market with fast-frequency measures. So what do these fast-frequency measures tell us?[D] The most important message from the data is that India's labour participation rate is very low by world standards and that even this low participation rate fell very sharply after demonetisation. The average labour participation rate was 47% during January-October 2016. The world average is about 66%.What can be illustrated from the statement [A] 'India complies with many requirements of the SDDS, but it has taken an exception with respect to the measurement of unemployment'?

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According to the employment trends in India mentioned in the text, what has been the trend in the unemployment rate (UR) under the Current Weekly Status (CWS) over the past three years?a)Consistent increaseb)Consistent decreasec)Fluctuating with no clear trendd)UnchangedCorrect answer is option 'B'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about According to the employment trends in India mentioned in the text, what has been the trend in the unemployment rate (UR) under the Current Weekly Status (CWS) over the past three years?a)Consistent increaseb)Consistent decreasec)Fluctuating with no clear trendd)UnchangedCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for According to the employment trends in India mentioned in the text, what has been the trend in the unemployment rate (UR) under the Current Weekly Status (CWS) over the past three years?a)Consistent increaseb)Consistent decreasec)Fluctuating with no clear trendd)UnchangedCorrect answer is option 'B'. Can you explain this answer?.
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