Unemployment In India Rises To 16-Month High; Check CMIE Figures

Photo courtesy: KADN

New Delhi: Unemployment in India has climbed from 8% in November to 8.30% this month, according to figures released by the Centre for Monitoring Indian Economy (CMIE) on Sunday.

This represents the highest level of joblessness in 16 months.

According to the report, the unemployment rate in urban areas increased from 8.96% to 10.09% while the in rural areas it decreased from 7.55% to 7.44%.

CMIE managing director Mahesh Vyas said the increase in jobless rate was not as awful as it may seem because there was a positive rise in labour force participation rate, which rose to 40.48% in December — the highest level in a year.

“Most importantly, the employment rate has increased in December to 37.1%, which again is the highest since January 2022,” Reuters quoted Vyas as saying.

Controlling inflation and providing jobs for millions entering the labour force are among the primary challenges of Narendra Modi-headed government.

According to quarterly figures of the state-run National Statistical Office (NSO), released in November, unemployment rate decreased to 7.2% in July-September from 7.6% in the previous quarter.