Beginning May 15, the government will start releasing unemployment data monthly, a shift from the current quarterly format, a senior official announced on Monday. The first release will cover January to March figures, with monthly updates to follow. This move aims to bring India closer to global standards of high-frequency labour data.
So far, urban unemployment was reported quarterly, while rural-urban combined data came annually. The Ministry of Statistics is also working to provide quarterly insights on the informal sector and rural areas. Officials emphasised the robustness and credibility of India’s data systems, calling timely data “the new oil.”
The government will meet its guidance and come out with the private capital expenditure data by April-end, the official said.
From next year onwards, it will also be releasing findings of a survey of service sector enterprises, the official said.
The government is also working to bring out data on the informal sector captured in the annual survey of the unincorporated sector, on a quarterly basis, the official said.
An official said that the government has also decided to launch periodic labour force survey for rural areas on a quarterly basis.
Data is the new oil, and there is a need for the same to be credible and timely, the official said, asserting that Indian data is considered to be robust, credible and transparent globally.
