November 15, 2021

Economic revival key to reducing unemployment

Joblessness has soared for the week ending 30 May, with urban India hitting a high, according to the Centre for Monitoring Indian Economy (CMIE). The labour force participation rate too has fallen, signalling the need to revive economic activities. Mint explains:

What is India’s unemployment rate?

Regional lockdowns imposed to curb the spread of the second wave of covid-19 infections have seen unemployment rate in the country soar to 11.9% in May as against 7.97% in April and 6.5% in March 2021. In the week ended 30 May, the rate rose to 12.15%, even as it touched a high of 17.88% in urban India. However, as CMIE estimates are based on a small sample size, which might give a macro picture of the latest unemployment trends, data given by the National Sample Survey Office (NSSO)—based on door-to-door collection—might be considered for an in-depth analysis.

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