Joblosses have pushed up Indias unemployment rate to 8% in April compared to 6.5% in March while the employment rate fell to 36.8% last month as against 37.6% in March.
As the severe second wave of Covid-19 and the resultant lockdowns bring economic activities to a halt, India s job scenario worsened in April 2021. As per data published by the Centre for Monitoring Indian Economy (CMIE), India s unemployment rate rose 8 per cent in April, against 6.5 per cent in March. April 2021 turned out to be worse than expectations. We had expected labour participation rate to stabilise at its March 2021 level. The LPR had dropped sharply in March already after a modest fall in February. But, the LPR fell for a third consecutive month in April, CMIE s CEO Mahesh Vyas said. It fell to 39.98 per cent the lowest LPR since May 2020, the month of a stringent nation-wide lockdown. The LPR in April 2021 is therefore the worst since the national lockdown, the CMIE said.
Job scenario worsens, unemployment rate shoots up to 8% in April
By IANS |
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Unemployment.. Image Source: IANS News
New Delhi, May 13 : As the severe second wave of Covid-19 and the resultant lockdowns bring economic activities to a halt, India s job scenario worsened in April 2021.
As per data published by the Centre for Monitoring Indian Economy (CMIE), India s unemployment rate rose 8 per cent in April, against 6.5 per cent in March. April 2021 turned out to be worse than expectations. We had expected labour participation rate to stabilise at its March 2021 level. The LPR had dropped sharply in March already after a modest fall in February. But, the LPR fell for a third consecutive month in April, CMIE s CEO Mahesh Vyas said.
American credit rating agency S&P says localised lockdowns in parts of the country to break the chain of Covid-19 transmission could impact India's economic recovery.