The unemployment rate slumped from 6.0 per cent in 2017–18 to 3.2 per cent in 2023–24. About 1.56 crore women have joined formal workforce in the past seven years. “This growth is especially significant because from an economic standpoint, Gross Domestic Product (GDP) alone cannot fully capture a nation’s true development. “Employment carries both economic and social weight: higher job levels signal a stronger economy, stimulate consumption, and fuel sustained growth. For development to be meaningful, economic expansion must translate into the creation of productive, well-paying jobs that enhance livelihoods and social stability,” the statement said.