CMIE reports increase in unemployment rate in India
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The latest 30-day moving average released by Centre for Monitoring Indian Economy (CMIE) measured at 7.9 per cent with a significant increase from 6.51 per cent of last month. For urban and rural average, it marked at 8.2 per cent and 7.8 per cent respectively. Among Indian states, Haryana (25.6 per cent) and Rajasthan (18.6 per cent) have the largest unemployment rates. On the national average, a continuous increase in the unemployment rate has been monitored from last month. In 2019 December unemployment rate was marked at 7.6.
In November, the average employment rate in India marked at 6.51 and for urban India, it was 7.07 against 6.26 of rural India. During last month, employment rate in India was 2.4 per cent lower than 2019 November. The labour force who are actively looking for a job shrran by 16 million last month. In November 2020, the labour force was estimated at 421 million compared to 437 million in 2019-20.
After Covid-19 breakdown, the unemployment rate in India reached a peak of 23.52 in April and 21.73 in May. An appreciable reduction in the employment rate was observed from May till August where unemployment has risen again.