India's Unemployment Rate Rises To Three-Month High Of 8 Per Cent In November: CMIE

The rate of urban unemployment jumped to 8.96 per cent in November from 7.21 per cent in the previous month, while the rural unemployment rate slipped to 7.55 per cent from 8.04 per cent, the data says

Last month, the unemployment rate in India touched to 7.77 per cent (in October) on the account of a sharp increase in rural unemployment.

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The unemployment rate in India rose to 8.0 per cent in November, highest in three months, from 7.77 per cent in the previous month, data from the Centre for Monitoring Indian Economy (CMIE) showed on Thursday.

The rate of urban unemployment jumped to 8.96 per cent in November from 7.21 per cent in the previous month, while the rural unemployment rate slipped to 7.55 per cent from 8.04 per cent, according to the data.

The data from the Mumbai-based CMIE is closely watched by economists and policymakers as the government does not release its own monthly figures.

Last month, the unemployment rate in India touched to 7.77 per cent (in October) on the account of a sharp increase in rural unemployment. It was reported last month that India’s unemployment rate fell to a four-year low of 6.43 per cent in September. According to the data, rural unemployment has seen a steep surge from 5.8 per cent in September to 8.04 per cent in October.

Meanwhile, the central government has released the National Statistical Office (NSO) data on employment. According to the latest Periodic Labour Force Survey released by the NSO, the country’s employment rate declined to 7.2 per cent in July-September this year for persons aged 15 years and above in urban areas compared to 9.8 per cent last year.

The latest data underlines a decline in the unemployment rate amid an improved labour force participation ratio and points towards a sustained economic recovery from the pandemic, reported by the PTI. In July-September 2021, joblessness was high due to Covid-related restrictions in the country.

The 16th Periodic Labour Force Survey (PLFS) also showed that the unemployment rate for persons aged 15 years and above in April-June 2022 was 7.6 per cent in urban areas. The unemployment rate is defined as the percentage of unemployed persons in the labour force.