Indians lost 1.9 million jobs, Unemployment hit 8.3% in August: report
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New Delhi: The unemployment rate in India has increased from 7% to 8.3% in August 2021, said a report by the Centre for Monitoring Indian Economy (CMIE). 1.9 million jobs were lost in the country in the last month.
The report noted that the job loss was mostly in farm jobs. "It reflects the seasonal nature of employment and uncertainty caused by the erratic monsoon." The CMIE has mentioned that the employment rate has fallen by 8.7 million in August. And non-farm jobs have increased by 6.8 million at the same time, reported The News Minute.
The report states that employment in the form of business persons has increased by nearly 4 million. A hike of 2.1 million was seen in the form of small traders and daily wage labourers. Salaried jobs have increased marginally by 0.7 million last month.
The weekly analysis said that the manufacturing sector shed 0.94 million jobs in August and hence, factories are not a reliable source of employment. The lockdowns have led to the permanent loss of about 10 million jobs in the manufacturing sector.
The service sector provided 8.5 million additional jobs. personal non-professional services and retail trade were the biggest absorbers.