cmie: Unemployment rate fell to 7.6% in March from Feb’s 8.1%: CMIE | India News

According to CMIE data.
The Indian economy’s monthly time series data tracker reveals that the overall unemployment rate in India was 8.1 percent in February 2022, falling to 7.6 percent in March. On April 2, the rate fell further to 7.5%, with urban unemployment at 8.5% and rural unemployment at 7.1%.
Abhirup Sarkar, a retired professor of economics at the Indian Statistical Institute, said that although the overall unemployment rate is falling, it is still high for a “poor” country like India. The rate drop shows the economy is on track after being hit by Covid-19 for two years, he added.
“However, this unemployment rate is still high for India, a poor country. The poor, especially in the rural areas, cannot afford to remain unemployed, they are taking any job that comes their way,” Sarkar further commented.
According to the data, Haryana recorded the highest unemployment rate in March with 26.7%, followed by Rajasthan and Jammu & Kashmir at 25% each, Bihar at 14.4%, Tripura at 14.1% and West Bengal at 5.6%.
In April 2021, the overall unemployment rate was 7.9% and spiked to 11.8% last May. Karnataka and Gujarat registered an unemployment rate of at least 1.8% in March 2022.

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