Unemployment Rate: Economic activities have increased in the country amid Corona virus infection, but till now the government is not getting good news in terms of employment. The situation regarding employment in the country is still not getting better.
In the month of October, the unemployment rate in the country has increased again. Such is the situation when the unemployment rate in cities has fallen by 124 basis points, or 1.24 per cent, in October on a monthly basis. At the same time, due to lack of work in the villages, the unemployment rate has increased in the month of October. The unemployment rate in villages has increased by 175 basis points to 1.75 per cent.
India lost 32 lakh jobs in July, unemployment rate reduced to 6.95 percent: CMIE Report
According to the Center for Monitoring of Indian Economy (CMIE), the country’s unemployment rate has increased to 7.75 percent in October, from 6.86 percent a month ago. Whereas in the month of October, the rate of increase in unemployment in cities has reached a three-month low of 7.38 percent and in villages this figure has reached a 4-month high of 7.91 percent.
However, in the figures released by the private sector think tank, no information has been given about how many people have lost their jobs. But a jump in the unemployment rate has meant that a large number of people had no work last month.
Let us inform that in the month of September as compared to August, unemployment fell by 146 basis points to 6.86 percent and during this period about 85 lakh employment opportunities have increased. 40.62 crore people had employment in the month of September, which has been the highest since March 2020. However, this figure is still lower than the level before Corona when 40.89 crore people had employment.
Corona Impact: Unemployment rate reached 4-month high in April -CMIE
The increase in the unemployment rate has ruined the earlier estimates of CMIE. CMIE MD and CEO Mahesh Vyas wrote in an article last month, in which he said that employment opportunities may increase in the coming months during the festive season. Employment opportunities can also increase in the retail trade industry and given its large size, it was estimated that the increase in employment opportunities in this will have a better impact on overall employment.
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