India’s Unemployment Rate Hits Highest Level In Two-And-A-Half Years: Think-Tank CMIE

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The average employment rate during the first three weeks of April was 40 per cent.

India’s unemployment rate has hit the highest level in the last 2 and half years, according to a data released by Centre for Monitoring Indian Economy (CMIE). The unemployment rate in the country stood at an average of 8.1 per cent in the first three weeks of April, the think-tank said in its April 23-notification citing the findings of its household survey. In the first week of April, the unemployment rate was recorded at 7.9 per cent, in the second week at 8.1 per cent and in the third at 8.4 percent. “Each of these is higher than the unemployment rate in the weeks of March,” CMIE said in its statement.

“It is, therefore, very likely that the month of April will end with an unemployment rate that would be much higher than the 6.7 per cent of March 2019,” it further noted.

In the month of March, the weekly estimates of the unemployment rate stood at 6.9 per cent in the first week and 7 per cent in the second week. It further fell in the last two weeks to 6.2 per cent and 6.4 per cent.

Meanwhile, the average employment rate during the first three weeks of April stood at 40 per cent. This is higher than the employment rate during the first three weeks of March, which was 39.5 per cent.

The labour force participation rate has also touched a recent peak of 44.3 per cent in the week of April 14, the highest labour participation rate since February 25, 2018.

The average labour force participation rate during the first three weeks of April 2019 was 43.5 per cent, compared to 42.3 per cent during the first three weeks of March 2019. 

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