Unemployment Rate: India
Current Value (2024)
4.2%
All-Time Peak (2020)
7.9%
All-Time Low (2023)
4.2%
Unemployment Rate — India
Analysis# India's Unemployment Rate Analysis
India's unemployment rate has recovered nearly to its historic low of 4.172% (2023), currently standing at 4.173% in 2024, indicating stabilization after the COVID-19 shock that peaked at 7.859% in 2020. The 3.7 percentage-point spike during the pandemic represented the most severe disruption in the 33-year dataset, far exceeding typical cyclical variations observed across the 1991–2024 period. The current rate suggests structural labor market resilience and demographic tailwinds from India's young population, though this figure likely understates underemployment and informal sector vulnerabilities that characterize India's
Historical Data
| Year | Value | Change % |
|---|---|---|
| 2024 | 4.2% | +0.02% |
| 2023 | 4.2% | -13.48% |
| 2022 | 4.8% | -24.42% |
| 2021 | 6.4% | -18.82% |
| 2020 | 7.9% | +20.72% |
| 2019 | 6.5% | -14.92% |
| 2018 | 7.7% | +0.34% |
| 2017 | 7.6% | +0.20% |
| 2016 | 7.6% | -0.24% |
| 2015 | 7.6% | -0.35% |
| 2014 | 7.7% | -0.29% |
| 2013 | 7.7% | +0.43% |
| 2012 | 7.6% | +0.47% |
| 2011 | 7.6% | -0.29% |
| 2010 | 7.6% | -0.07% |
| 2009 | 7.6% | +0.09% |
| 2008 | 7.6% | +0.89% |
| 2007 | 7.6% | +0.12% |
| 2006 | 7.6% | +0.03% |
| 2005 | 7.6% | -0.62% |
Show all 34 rows
| Year | Value | Change % |
|---|---|---|
| 2004 | 7.6% | -0.46% |
| 2003 | 7.6% | -0.62% |
| 2002 | 7.7% | +0.92% |
| 2001 | 7.6% | +0.29% |
| 2000 | 7.6% | +0.08% |
| 1999 | 7.6% | -0.17% |
| 1998 | 7.6% | +0.29% |
| 1997 | 7.6% | +0.49% |
| 1996 | 7.5% | -0.44% |
| 1995 | 7.6% | -0.30% |
| 1994 | 7.6% | -0.90% |
| 1993 | 7.7% | +0.17% |
| 1992 | 7.6% | +0.10% |
| 1991 | 7.6% | — |