India’s Unemployment Rate Rises To 7.78 Per Cent From January’s 7.16, Highest Since October ’19

Going up from January’s 7.16 per cent, the unemployment rate in India is now 7.78 per cent, highest the country has seen since October 2019.

This data was released by Centre for Monitoring Indian Economy (CMIE).

This comes in light of India registering its slowest economy rate in 6 years, in the last 3 months of 2019. 

It is further reported that things are only going to go downhill due to the outbreak of coronavirus.

Things are worse in rural areas where unemployment has risen to 7.37 per cent in February in comparison to 5.97 per cent in January.

In urban areas though, it was gone down to 8.65 per cent from 9.70 per cent, as reported by the CMIE.

Earlier in November 2019, the unemployment in India rose to 8.5 per cent, which was the highest since August 2016. The reason cited was less demand of people in companies.