Google Search for Web:

India’s Jobless Rate Rises to 16-Month High of 8.3% In December: CMIE Featured

  01 January 2023

The urban unemployment rate rose to 10.09% in December from 8.96% in the previous month, while the rural unemployment rate slipped to 7.44% from 7.55%, the data showed.

New Delhi: India’s unemployment rate rose to 8.3% in December, the highest in 16 months, from 8% in the previous month, data from the Centre for Monitoring Indian Economy (CMIE) showed on Sunday, January 1.

The urban unemployment rate rose to 10.09% in December from 8.96% in the previous month, while the rural unemployment rate slipped to 7.44% from 7.55%, the data showed. Mahesh Vyas, managing director of the CMIE, said the rise in the unemployment rate was “not as bad as it may seem,” as it came on top of a healthy increase in the labour participation rate, which shot up to 40.48% in December, the highest in 12 months.

“Most importantly, the employment rate has increased in December to 37.1%, which again is the highest since January 2022,” he told Reuters.Containing high inflation and creating jobs for millions of young people entering the job market remain the biggest challenge for Prime Minister Narendra Modi’s administration ahead of national elections in 2024.

 

The main opposition Congress party launched the Bharat Jodo Yatra in September from Kanyakumari to Srinagar, in Jammu and Kashmir region, to mobilise public opinion on issues such as high prices, unemployment and what it says are the divisive politics of Modi’s Bharatiya Janata party.

“India needs to move from a single focus on GDP growth to growth with employment, skilling of youth and creating production capacities with export prospects,” Rahul Gandhi, senior leader of the Congress party, who is leading the party’s 3,500 kilometre (2,175 mile) march on foot, told reporters on Saturday, December 31.

The unemployment rate had declined to 7.2% in the July-September quarter compared to 7.6% in the previous quarter, according to separate quarterly data compiled by state run National Statistical Office (NSO) and released in November.In December, the unemployment rate rose to 37.4% in the northern state of Haryana, followed by 28.5% in Rajasthan and 20.8% in Delhi, CMIE data showed.

 

 

Kajal Agarwal

 

Headlines

Popular Posts

Priyanka Gandhi

Currency Rates

Weather

Parse error in downloaded data

Top NRI News

Indian Americans on financial crime rogue’s gallery

27.Mar.2023


Man sentenced to 100 years' jail for causing 5-year-old PIO's death in US

27.Mar.2023


First Australian MP of Indian origin Lisa Singh likes to engage with her Indian heritage

​​Singh feels that the development of the Indian diaspora and the integration of many of its...

24.Mar.2023


Indian sentenced in US for distribution of child sexual abuse material

24.Mar.2023


Indian-American Rahul Roy-Chowdhury named CEO of Grammarly

Grammarly, the San Francisco headquartered company that provides artificial intelligence based...

22.Mar.2023