The Unemployment rate in India falls to pre-lockdown level: CMIE

0
618
Unemployment rate in India
Unemployment rate in India

The Unemployment rate in India falls to pre-lockdown level: CMIE

The unemployment rate in India has eased to pre-lockdown levels of 8.5 percent in the week ended June 21, said the Centre for Monitoring Indian Economy (CMIE). The Mumbai-based think tank said the rate had earlier spiked from 8.75 per cent in March to 23.5 per cent in April and May.

It had peaked at 27.1 percent in the week ended May 3, following which there has been a drastic improvement in June. CMIE managing director and CEO Mahesh Vyas said, “In the first three weeks of June the Unemployment rate in India dropped dramatically to first, 17.5 then 11.6 percent and now 8.5 percent.”

However, the Unemployment rate in India stood at 8.75% in March and had peaked to as high as 27.1% in the week ended May 3 after which it began to fall. In the first three weeks of June the Unemployment rate in India dropped 17.5%, 11.6% and now stood at 8.5%, according to the CMIE survey, as more towns and cities emerge from the lockdown and economic activity starts gathering pace.

Rural India leads recovery

CMIE data also suggested that the big jump in rural employment is leading India’s economic recovery. It adds that rural employment may see “bigger gains” in the months to come.

“The Unemployment rate in India dropped to 7.26 percent in rural India in the week ended June 21. This is lower than it was in the pre-lockdown week ended March 22 when the rate was 8.3 percent. It is lower than the average Unemployment rate in India in February and March 2020 which was 7.34 percent and 8.4 percent, respectively,” CMIE’s Vyas said.

“While the relaxation of the lockdown has helped in alleviating the unemployment stress in general, rural India has apparently gained by the massive sudden increase in Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA) activities and also by a sharp increase in Kharif sowing this year,” it said.

According to CMIE, the person-days of jobs created in May 2020 under the rural unemployment rate in India scheme shot up to 565 million, 53% higher than the 370 million person-days of jobs created under the scheme in May 2019 and 2.55 times the average monthly person-days of jobs created in 2019-20. “33 million households benefited from the scheme in May 2020, a 55% increase than the number of households that benefited a year ago,” it added.

Check it Out Latest Off Campus Recruitment: Click here

If You Want To Get More Daily Such Jobs Updates, Career Advice Then Join the Telegram Group From Given Link And Never Miss Update.

Join Telegram Group of Daily Jobs Updates for 2010-2021 Batch: Click Here

Why You’re Not Getting Response From Recruiter?: Click here

How To Get a Job Easily: Professional Advice For Job Seekers: Click here

Cognizant Latest News: Up To 20K+ Employees Will Be Hired: Click here

COVID-19 Live Tracker India & Coronavirus Live Update: Click here

Why Remove China Apps took down from Play store?: Click here

Feel Like Demotivated? Check Out our Motivation For You: Click here

List of Best Sites To Watch Free Movies Online in 2020: Click here

5 Proven Tips For How To Look Beautiful and Attractive: Click here

LEAVE A REPLY

Please enter your comment!
Please enter your name here