India’s Unemployment Rate Surges to 7.83% In April
Unemployment rate was highest in Haryana with 34.5 percent followed by Rajasthan with 28.8 percent, Bihar with 21.1 percent and Jammu and Kashmir with 15.6 percent.
Insight Bureau: According to data from the Center for Monitoring Indian Economy (CMIE), the country’s unemployment rate has grown to 7.83 percent in April from 7.60 percent in March.
The unemployment rate in urban areas is 9.22 percent higher than 8.28 percent in March. In rural areas the unemployment rate was 7.18 percent in April compared to 7.29 percent last month.
Unemployment rate was highest in Haryana with 34.5 percent followed by Rajasthan with 28.8 percent, Bihar with 21.1 percent and Jammu and Kashmir with 15.6 percent. According to Shilan Shah, an economist at Capital Economics, inflation rose to 6.95% in 17 months in March, and could rise to about 7.5% by the end of this year.
With millions losing their jobs during the epidemic, CMIE-based Mumbai is being watched closely by economists and policy makers as the government does not release its monthly figures. They were also looking at declining staff participation – the number of people employed or looking for work among working people. That decreased to 39.5% in March 2022 from 43.7% in March 2019.