As India’s unemployment rate stoops to 6.57%, the urban unemployment rate is 8.16%. According to CMIE, India’s unemployment rate has been the lowest since March 2021.
As per the CMIE report, “While unemployment in urban India stood at 8.16% in January, in rural areas it was the lowest at 5.84% in rural areas. In December, the unemployment rate stood at 7.91%, with urban at 9.30% and rural at 7.28%.”
A decline in India’s unemployment rate
As the country recovers from Omicron cases, various states across India suffer a decline in the unemployment rate.
Furthermore, the unemployment rate in India was 53 million in December 2021. As per CEO and MD CMIE Mahesh Vyas’ December data, while 35 million people looked for jobs, 8 million were women.
Moreover, Haryana and Rajasthan recorded the highest unemployment rate, while Telangana reported the lowest.
While the prior states stood at 23.4% and 18.9%, respectively, the latter reported at 0.7%.
Employment during India’s highest unemployment rate
Furthermore, Mr. Vyas also added that nearly 17 million people were never employed and are willing to work if it is available.
However, these 17 million people are not actively looking for work. Furthermore, the weekly unemployment rate recorded on 11 Jan 2022 at 7.52%, 18 Jan 2022 at 7.05%, 25 Jan 2022 at 6.87%, and 01 Feb 2022 at 6.62%.
Also, Odisha reported a 1.8% unemployment rate, while Meghalaya was at 1.5%, and Gujarat at 1.2%.
Nevertheless, the current stoop in India’s unemployment rate data provides a promising future in employment.
As India witnesses a stoop in its unemployment rate, there still seems to be a future for employment. As Omicron cases reduce, employment opportunities will arise.
Furthermore, businesses witness ease in lockdown restrictions, bringing various opportunities for millions.