Government to publish monthly unemployment data from May 15

NEW DELHI: In a major shift in the direction of extra frequent financial data dissemination, the Central authorities will start releasing unemployment figures on a monthly foundation beginning May 15, a senior official from the Ministry of Statistics and Programme Implementation introduced on Monday.
According to PTI, the preliminary launch will cowl data for the months of January, February, and March, and subsequent stories shall be revealed every month thereafter.
“This is the first time that we are doing it,” the official acknowledged, emphasizing the federal government’s dedication to growing the frequency and transparency of labour market data.
Until now, India has been publishing city unemployment data on a quarterly foundation and mixed rural-urban unemployment statistics yearly. Unlike different main economies, India has lacked a system for high-frequency unemployment data assortment and dissemination.
As reported by PTI, the official assured that the brand new data assortment course of is statistically sturdy and consultant, with inside consistency checks being carried out to guarantee accuracy.
The official additionally confirmed that the federal government will meet its beforehand introduced timeline to launch non-public capital expenditure data by the tip of April, PTI stated.
Looking forward, the federal government plans to increase the scope of data assortment additional. According to PTI, starting subsequent 12 months, findings from a survey of service sector enterprises may even be revealed.
Additionally, the federal government is working in the direction of releasing data on the casual sector—collected via the annual survey of the unincorporated sector—on a quarterly foundation, the official revealed.
In one other notable growth, a quarterly periodic labour pressure survey for rural areas can also be within the pipeline, PTI reported.
“Data is the new oil, and there is a need for it to be both credible and timely,” the official acknowledged, including that Indian statistics are globally considered sturdy, credible, and clear.