Signaling a marginal enchancment within the job market, the city unemployment fee fell beneath the pre-pandemic degree for the primary time within the October-December, 2021 interval at 8.8%, in keeping with the newest quarterly periodic labour power survey (PLFS) information launched by the ministry of statistics and programme implementation (MoSPI).
In January-March quarter which instantly preceded the pandemic, the city joblessness fee was 9.1%, however it jumped to 21.2% within the subsequent quarter which noticed the primary wave of the pandemic and the ensuing nation-wide lockdown. The fee has since come down by way of the tempo was not regular. The second Covid tempo led to a short lived spike within the fee.
However, regardless of the autumn in city unemployment fee within the October-December 2021, 9 of the 21 states surveyed within the newest spherical of PLFS had double-digit unemployment fee of their city areas. The highest fee was in Uttarakhand at 15.5%. In the July-September 2021 interval, 11 states had double-digit unemployment fee of their city areas.
Urban unemployment fee within the January-March quarter of the present 12 months may need come down a bit additional going by the findings of the Center for Monitoring of Indian Economy (CMIE). Though CMIE information will not be strictly comparable with PLFS end result, city unemployment fee, in keeping with CMIE, fell to eight.14% in January, 7.57% in February and eight.28% in March in contrast with 7.37% in October, 8.2% in November and 9.3% in December.
The newest PLFS report, nevertheless, confirmed that feminine unemployment fee in city areas remained in double digits for eight quarters by way of October-December 2021. Incidentally, the speed was 10.5% within the pre-pandemic January-March, 2020 quarter. Unemployment fee for males, nevertheless, fell to eight.3% within the October-December 2021 quarter, the bottom in two years.
Source: www.financialexpress.com”