Unemployment Rate In India: Economic activity has been hit badly due to rising Omicron cases in South Asia. Many countries have imposed restrictions on the movement of people, leading to supply chain problems, according to media reports.
New Delhi: According to the latest data published by the Centre for Monitoring India Economy (CMIE), the unemployment rate in the country touched a four-month high of 7.9 per cent in December 2021. The urban unemployment rate rose from 8.21 per cent in November 2021 to 9.3 per cent in December 2021. Rural unemployment also rose from 6.44 per cent to 7.28 per cent. The unemployment rate in November 2021 was 7 per cent, according to data on CMIE’s website.
Unemployment in India was highest in May 2021, when it touched 11.84 per cent. Economic activity has been hit badly due to rising Omicron cases in South Asia. Many countries have imposed restrictions on the movement of people, leading to supply chain problems, according to media reports.
According to a 30-day moving average, the unemployment rate on January 2, 2022, is 7.8 per cent. Urban unemployment was as high as 9.2 per cent. Among the states, the unemployment rate was highest in Haryana at 34.1 per cent. It was followed by Rajasthan with 27.1 per cent unemployment. Jharkhand ranked third in the list with a 17.3 per cent unemployment rate.
Many economists worry that the Omicron variant could reverse the economic recovery seen in the previous quarter.
