The Rate of Unemployment is Highest at 7.2 % Since Sept 2016: Report
The unemployment rate in India was at 7.2 percent in February 2019, the greatest since September 2016, according to data collected by the Centre for Monitoring Indian Economy (CMIE) that was published on Tuesday, 5 March, Reuters stated. The rate was at 5.9 percent in February 2018.
The study is based on tens of thousands of families across India.
Mahesh Vyas, top of the think tank told Reuters that the unemployment rate has increased despite a fall in the number of job seekers. He also said that the number of actively employed people in India was measured at 400 million in February matched with 406 million last year.
The Opposition has reprimanded the Narendra Modi administration over increasing unemployment in the country, a case that has been denied by the ruling party.
According to the National Sample Survey Office’s (NSSO), India’s unemployment rate was at a 45-year high of 6.1 percent throughout 2017-18, according to the cyclic labor force survey (PLFS), reported Business Standard.
The unemployment rate in India was at its highest in 2017-18 since 1972-73, the time since data about jobs is relative, Business Standard said, citing reports they had received.
The NSSO survey reportedly revealed that at 7.8 percent, joblessness is higher in the urban regions of the country than in rural parts, where it was 5.3 percent. Amidst urban men aged within 15 and 29, unemployment stood at 18.7 percent, as opposed to 8.1 in 2011-12. Amidst urban women, it was 27.2 percent in 2017-18; it was 13.1 percent in 2011-12, detailed Business Standard.