
Unemployment rate rises to 4-month high of 8.1% in April
Urban joblessness rate rises to 9.81% in April, while the rural unemployment rate eased to 7.34%
Urban joblessness rate rises to 9.81% in April, while the rural unemployment rate eased to 7.34%
In urban areas, unemployment rate was 8.5% in March 2023, up from 7.9% in Feb 2023, while in rural areas, it stood at 7.4%, up from 7.2% in previous month
Experts say with a high level of automation and digitisation, manufacturing may not remain an avenue for job creation and that focus is needed on services as well as self-employment.
These employees got average wages worth ₹7 lakh; much higher than average salary received by factory employees that’s around ₹3 lakh.
The unemployment rate in the urban areas stood at 8.96%, the rural areas saw 7.55% unemployment rate in the month.
The unemployment rate surged primarily due to a significant rise in the rural unemployment rate, essentially in non-agricultural rural India.
The jobless rate fell in both urban and rural parts of the country, thanks to the addition of new jobs during September 2022.
Better monsoon and an uptick in agricultural activity in rural areas are reasons for a sharp decline in joblessness in July, says CMIE
While consumer sentiments can make a handsome comeback in July, some caveats warrant caution to be attached to this reversal, CMIE says.
The unemployment rate decreased to 7.29% as of July 14, 2022, after touching a high of 7.80% in June, shows the CMIE data