Covid hits economy: Labour participation falls, unemployment rises
Covid hits economy: Labour participation falls, unemployment rises
As restrictions become tighter across states to prevent rising Covid-19 cases, several key economic indicators like production, sales, labour participation and employment have fallen.
advertisement
UPDATED: April 27, 2021 17:53 IST
The second wave of the lockdown has put immense pressure on small businesses, leading to a rise in unemployment rate in April. (Photo: PTI)
The second wave of Covid-19 has already triggered a health crisis in the country and may soon derail all efforts undertaken to revive the economy.
As restrictions become tighter across states to prevent rising Covid-19 cases, several key economic indicators like production, sales, labour participation and employment have fallen.
April unemployment rate rises amid COVID-19 curbs: CMIE
Regarding the employment rate, the article stated that April could be the third consecutive month of deterioration in terms of the most important fast-frequency labour statistic.
BusinessToday.In | April 27, 2021 | Updated 12:41 IST
As of March 2021, there were 43.8 million people in India who were unemployed and were willing to work.
As India battles the second wave of coronavirus cases and states impose restrictions to curb the spread of infections, the unemployment rate inched up in April and is likely to close the month at a higher rate than March, as per think-tank Centre for Monitoring Indian Economy (CMIE).
By hiding the real number of Covid-19 cases and deaths, some Indian states are disempowering people
Three experts explain the consequences of data gaps for India’s pandemic response. On April 25, daily new Covid-19 cases rose to about 350,000 in India. | Narinder Nanu / AFP
Daily new Covid-19 cases in India rose to over
3,50,000 on April 25, a day which saw 2,808 deaths. These are just the numbers we know. The numbers we do not know could be a lot more. We do not know how many more cases there could potentially be because of no testing, or because test results are not revealed. More tricky is assessing the number of Covid-19 deaths.
NEW DELHI: As India recorded more than 234,000 new Covid-19 infections last Saturday, Prime Minister Narendra Modi held an election rally in the West Bengal town of Asansol and tweeted: “I’ve never seen such huge crowds.”
The second wave of the coronavirus has since grown into a tsunami. India is now the global coronavirus hotspot, setting records for the world’s highest number of daily cases. Images of hospitals overflowing with the sick and dying are flooding social media, as medical staff and the public alike make desperate appeals for oxygen supplies.
The political and financial capitals of New Delhi and Mumbai are in lockdown, with only the sound of ambulance sirens punctuating the quiet, but there’s a growing chorus of blame directed at Modi over his government’s handling of the pandemic.
States Which Are Hiding COVID Cases And Deaths Are Disempowering Their People indiaspend.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiaspend.com Daily Mail and Mail on Sunday newspapers.