Global Unemployment Rates Decline: J&K 6.1%, Switzerland 2.9%, Philippines 4.3%, Ireland 3.9%, UK 3.9%

Jammu and Kashmir's unemployment rate has decreased to 6.1% in 2023-24 from 6.7% in 2019-20, according to a new economic survey, reflecting increased employment opportunities and economic growth projected at 7.06%. The report also highlights a significant rise in exports, which doubled to Rs 1,162.29 crore since 2021-22, and records 2.36 crore tourist visits in 2024, boosted by recent G20 tourism events. Additionally, the region has seen a remarkable 287% increase in registered start-ups, growing from 237 in 2020 to 917 in 2024, including 333 women-led ventures. This positive trend follows the reorganization of Jammu and Kashmir after the abrogation of Article 370, which allowed the application of central laws to the region. The economic survey indicates a robust recovery and potential for further improvement in the local economy.