According to the ILO database, India’s unemployment rate rose between 2008 (5.36%) and 2010 (5.65%), and then fell between 2013 (5.67%) and 2019 (5.27%). It then rose sharply to 7.11% in 2020.
ITHACA The world is currently transfixed by the second wave of the COVID-19 pandemic sweeping through many regions, especially Asia, Africa and South America. But, focused as we are on the public-health crisis, we risk overlooking pandemic-related economic problems that could plague developing countries long after the wave has receded.
Read more about 97% Indians poorer post-Covid; steady fall in salaried jobs: Mahesh Vyas on Business Standard. Centre for Monitoring Indian Economy CEO Mahesh Vyas explains whether India s economy can make another quick recovery
Since the last week of March, consumer sentiment has fallen by 15% due to lockdowns and restrictions imposed in the country in the wake of the second wave of COVID-19.