Begin typing your search above and press return to search.
exit_to_app
Russia invades Ukraine; unusual military action
access_time 2022-02-24T15:55:36+05:30
The subversion of democracy in resort politics
access_time 2022-06-24T09:37:55+05:30
What they need is jobs
access_time 2022-06-20T09:32:54+05:30
Agniveers for whom?
access_time 2022-06-16T10:01:30+05:30
DEEP READ
exit_to_app
Homechevron_rightBusinesschevron_rightIndia's jobless rate...

India's jobless rate rises to 7.83% in April: CMIE

text_fields
bookmark_border
Indias jobless rate rises to 7.83% in April: CMIE
cancel

New Delhi: The Centre for Monitoring Indian Economy (CMIE) Sunday has revealed that India's unemployment rate rose to 7.83% in April from 7.60% in March.

According to the research firm's latest data, the urban unemployment rate rose to 9.22% in April from 8.28% the previous month, while the rural unemployment rate slipped to 7.18% from 7.29%.

The highest unemployment rate of 34.5% was recorded in the northern state of Haryana, followed by 28.8% in Rajasthan.

Economists say job opportunities have been hit by sluggish domestic demand and the slow pace of economic recovery amid rising prices.

The research company — closely watched by financial experts and policymakers — had last week said India's growth rate of 6%-8% was not adequate to create enough jobs in the economy, and that the government needed to intervene to tide over the crisis in the labour market.

CMIE Managing Director Mahesh Vyas had told Bloomberg Television: "I think the government is falling short of what is required to create good quality jobs." He added: "There is no safety net and people still quit the labour market. We see it as a sign of distress. People have given up looking for jobs actively and also moved out of the labour force."

The CMIE has also been watching the falling labor participation rate - the proportion of people in employment or seeking work among the working population. That slipped to 39.5% in March 2022 from 43.7% in March 2019, according to CMIE's earlier data, as millions lost jobs during the pandemic.

Show Full Article
TAGS:India Unemploymet CMIE 
Next Story