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The unemployment rate for the week ended July 11 rose 34 basis points (bps) from the previous week to 7.64%, as improved labour participation raised the need for jobs.
The LPR is an age-specific proportion between persons either working or actively seeking work and the total population in the working age group, usually 15 years and above.
Unemployment rate is a ratio between persons who are not currently employed but are actively searching for a job, and the total labour force.
Important causes of unemployment in India may be summarized as follows:
Unemployment is the root of a number of social and economic problems. Some of the vital problems are as under:
The measures that can help us in eradicating or minimizing Unemployment:
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