In the context of demographic trends, labor market indicators, and skill development architecture in India, evaluate the following statements. Which of the statements given below are correct?
- The Worker Population Ratio (WPR) measures the percentage of employed persons within the total population, whereas the Labour Force Participation Rate (LFPR) accounts for both employed individuals and those actively looking for work.Answer
- BThe Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY) is implemented directly by the Ministry of Skill Development and Entrepreneurship to target urban youth wage employment.
- Structural unemployment primarily stems from a fundamental misalignment between the skill profiles of job seekers and the technical requirements of newly created jobs in the economy.Answer
- DDisguised unemployment describes a market scenario where worker marginal productivity remains positive but stays below the statutory minimum wage rate.
Answer
The correct statements are the one defining WPR and LFPR distinctions and the one defining structural unemployment.
The statements explaining the difference between WPR and LFPR, and describing the skill mismatch foundation of structural unemployment are factually accurate. WPR counts only those currently employed, while LFPR measures total economic participation. Structural unemployment correctly highlights the mismatch between available skills and market demands.
Step-by-Step Solution
Key Concept
Demographic Indicators, Employment Classifications, and Nodal Skill Initiatives