May Day 2021: What Has (Not) Changed Since the Pandemic Ravaged Livelihoods of Workers
Despite the government passing several laws, hurting the hard-earned labour rights over centuries, workers are staring at an uncertain phase during which neither old labour laws nor the new codes are effectively relevant.
A migrant worker runs behind a truck as others try to board it to return to their villages after India ordered a 21-day nationwide lockdown to limit the spreading of coronavirus disease, in Ghaziabad, March 26, 2020. Photo: Reuters/Adnan Abidi
Rights01/May/2021
This is the second May Day during COVID-19 and hence as dark as it was in 2020, if not darker. For several reason, it is darker in many senses for the working class. Let us briefly review what happened post-May Day 2020.
Nifty futures on the Singapore Exchange traded 191 points, or 1.28 per cent, lower at 14734.7 in signs that Dalal Street was headed for a negative start on Friday.
Unemployment rate likely to be 8% compared to 6.5% in March in India: CMIE
SECTIONS
Share
Synopsis
As per CMIE data, unemployment rates in India in April stood at 8.2%, 8.6%, 8.4% and 7.4% in the first four weeks of the month. “The unemployment rate has dropped in the third and fourth week. Nevertheless, it is likely to be close to 8% during the month of April after closing March at 6.5%,”CMIE said in its weekly analysis.
Getty Images
The unemployment rate in India has shot up in the first two weeks of April and the monthly unemployment rate is likely to be close to 8% compared to 6.5% in March with lower absorption of labour in the market, says the Centre for Monitoring Indian Economy.
India s unemployment rate may rise to 8% in April: CMIE
By IANS |
Published on
Thu, Apr 29 2021 18:21 IST |
2 Views
Growth chart. (File Photo: IANS). Image Source: IANS News
New Delhi, April 29 : As states go into lockdowns and impose restrictions amid the second wave of Covid-19, the unemployment rate in April is likely to increase to nearly 8 per cent from 6.5 per cent in March, according to the Centre for Monitoring Indian Economy (CMIE).
CMIE s CEO Mahesh Vyas said that fast frequency labour statistics indicate that labour market conditions have been deteriorating in April 2021. The labour participation rate (LPR) looks unlikely to fall in April. The 30-day moving average LPR indicates that the ratio was rising till April 15 when it peaked at 40.8 per cent. Then it started falling, but it is unlikely to fall to a level lower than that of March 2021, he said.