By: Surya Sarathi Ray |
August 11, 2020
According to CMIE, the labour participation rate for the week ended August 9 stood at 40.62%, which was overall at 40.7% in July.
In
urban India, the unemployment rate has been steadily decelerating from
25.14% for the week ended May 31 to 7.19% for the week ended August 2;
though it inched up to 9.31% in the next week.
A
sharp 190 basis points rise in unemployment rate in rural India to
8.37% has pushed the country’s overall unemployment rate to a five-week
high of 8.67% in the week ended August 9. Urban areas saw unemployment
rate rise from 8.73% to 9.31% during the period, according to the Centre
for Monitoring Indian Economy (CMIE).
The employment rate, as per the private think-tank, also fell to 37.09%
for the week ended August 9 from overall 37.6% in July. In June, the
employment rate was 35.9%, 29.2% in May and 27.2% in April. In March,
India’s employment rate was 38.2% and in January, it was 39.8%.
uoyed by hectic sowing activity and jobs offered under the rural
employment guarantee scheme, MG-NREGS, unemployment rate in rural India
steadily plummeted to 6.34% for the week ended July 12 from 25.09% for
the week ended May 24, but it again headed north to 7.10% for the week
ended July 19 and further to 7.66% in the very next week; but fell to
6.47% in the week ended August 2.
In urban India, the unemployment
rate has been steadily decelerating from 25.14% for the week ended May
31 to 7.19% for the week ended August 2; though it inched up to 9.31% in
the next week.
CMIE surveys about 10,900 households every week.
These yield a sample of about 35,900 individuals for the estimation of
weekly unemployment, as per its website.
After clocking 23.5% in
April and May, the overall pan-India unemployment rate first dropped to
17.5% in the first week of June and then it took a steeper fall to 11.6%
in the second week. It further came down to 7.4% in July, lower than
the average unemployment rate of 7.6% during the entire 2019-20, but
slightly higher than the 7.3% recorded a year ago, in July 2019.
Unemployment rate in February and March 2020 was 7.8% and 8.8%,
respectively.
According to CMIE, the labour participation rate for
the week ended August 9 stood at 40.62%, which was overall at 40.7% in
July. The average labour participation rate for the whole of 2019-20 was
42.7%. The labour participation rate fell to 40.5% in the last week of
July 2020.
Source:https://www.financialexpress.com
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