lockdown, with
joblessness rate shooting up as high as
23.5 per cent (according to private research firm Centre for Monitoring Indian Economy). With things slowly limping back to some sort of normalcy even as
COVID-19 lingers on, the
unemployment rate continues to be a concern. India’s overall unemployment rate increased significantly to nearly 10 per cent in the week ended December 13, after showing some signs of recovery in the last few months, when it hovered around 6-8 per cent.
The mid-December data indicates that unemployment rate is, at least, at a 23-week high.
Jobs are essential to kickstarting the
economy which has officially gone into
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Jobs in India projected to fall 2.5% to 395 mn in Q3: CMIE
The CMIE projected that employment in India will decline by 2.5 per cent to 395 million in December quarter of FY21, compared to 405 million in the year ago period
Chitranjan Kumar | December 22, 2020 | Updated 20:53 IST
December quarter would end with employment of 395 million, says CMIE
India s employment is expected to fall by 2.5 per cent year-on-year (YoY) in October-December quarter of the current fiscal (FY21) as compared to the same period last year, according to a latest report by private think-tank Centre for Monitoring Indian Economy (CMIE). The third quarter of fiscal FY21 would end with employment of 395 million, which would be 2.5 per cent lower than 405 million employed in the December 2019 quarter, as per the CMIE data.
Economic activity has resumed after the government gradually eased pandemic lockdown restrictions.
There was a likely marginal improvement in aggregate employment in the first three weeks of December, compared with the previous month, according to private think-tank the Centre for Monitoring Indian Economy (CMIE) that analyses economic indicators. The estimates on aggregate employment or the average rate of job growth offer yet another sign of green shoots in the economy, which contracted at a better-than-estimated 7.5 per cent in the July-September period, following a record 23.9 per cent slump in the previous quarter.
The data highlights that December is on track to become the first month showing improvement in employment following two straight months of a gradual decline, said CMIE s managing director Mahesh Vyas in a column in Business Standard.
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