Finance

CMIE Report claims: Unemployment figures in India reduced, conditions like Pre-Lockdown

Anand Kumar

June 24, 2020

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The unemployment rate fell to 8.5 per cent for the week ending 21 June
Unemployment rate was at peak with 23.5 percent in April and May
new Delhi. There is good news for the people of India about the Unemployment Rate. Now the situation regarding unemployment in the country has reached before the lockdown. According to a report by the Center for Monitoring Indian Economy, the unemployment rate in this month has been halved compared to April and May. Let us also tell you what the CMIE figures are saying.Half of Unemployment Rate In
India, the unemployment rate has come to a level before the lockdown. The CMIE report for the week ending June 21 saw the unemployment rate fall to 8.5 percent. Whereas in April and May, the unemployment rate had touched a high of 23.5 per cent. Let me tell you that the economic activity came to a standstill during the lockdown. Due to which people had to lose their jobs. There has been a change in circumstances since the lockdown was open.For the first time in history, Diesel surpassed Petrol

Urban unemployment rates are still high, according to the
Center for Monitoring Indian Economy report, urban unemployment is still higher than pre-lockdown levels. Talking about the figures, the urban unemployment rate is at 11.2 percent in the latest week, which is higher than the pre-lockdown levels. This is still over 200 basis points compared to the 9 per cent average in the earlier period. The average unemployment rate over the 13-week period prior to the lockdown was 9 percent.

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Decline in Rural Unemployment Rate
While talking about the rural unemployment rate, the decline has been observed. The release of sowing of MNREGA and Kharif season has provided employment to the people in the villages. According to the data, the rural unemployment rate was 8.75 percent in March. The week ended May 3 came down to 27.1 percent. Since then it has continued to decline.

In the first three weeks of June, the unemployment rate has come down to 17.5 percent, 11.6 percent and now 8.5 percent. According to the report, the unemployment rate in rural India has come down to 7.26 percent in the week ended 21 June. In the pre-lockdown week ended March 22, it stood at 8.3 per cent.