Labour supply expands by 4.5 million

The seventeenth Wave of Consumer Pyramids Household Survey conducted during May through August 2019 indicates stabilisation of labour participation rate at about 43 per cent. At 42.85 per cent it is the same as in the 16th Wave. The 14th and 15th Waves had recorded an LPR of 42.74 per cent. Evidently, the LPR is rising in small, cautious steps. These small changes make big differences. A stable LPR implies a greater number of people have joined the labour force. This is because the underlying population keeps increasing. An increase in the LPR means that a greater proportion of the.....

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