India’s jobless rate hits 4-month high of 7.9% in December: CMIE data

The unemployment rate rose to 7.9% in December from 7.0% in November, 8.3% was reported in August.

0
114
India's jobless rate hits 4-month high of 7.9% in December: CMIE data

Data from the Centre for Monitoring Indian Economy (CMIE) revealed on Monday, India’s unemployment rate hit a four-month high in December.

The unemployment rate rose to 7.9% in December from 7.0% in November, 8.3% was reported in August. The urban unemployment rate rose to 9.3% in December from 8.2% in the previous month while the rural unemployment rate was up 7.3% from 6.4%, according to the data.

Also Read: CMIE Report Reveals the Freakish Unemployment Crisis in India

South Asian nations’ economic activity and consumer sentiment have been hit after a rise in cases of the Omicron coronavirus variant and social distancing restrictions.

Omicron variant could reverse the economic recovery seen in the previous quarter as per many economists.

CMIE data on unemployment is usually closely watched by economists and policymakers as the government doesn’t release monthly figures.

Source: Business Standard, The Hindu

Summary
Article Name
India's jobless rate hits 4-month high of 7.9% in December: CMIE data
Description
The unemployment rate rose to 7.9% in December from 7.0% in November, 8.3% was reported in August.
Author
Publisher Name
THE POLICY TIMES
Publisher Logo