India's Unemployment Rate Hits 4-Month High Of 7.9%: CMIE
As per data released by the Centre for Monitoring Indian Economy (CMIE) India's unemployment rate rose to 7.91% in December, the highest since August.
While the rate of urban unemployment stands at 9.30%, the rural employment rate is 7.28%.
The increase is attributed to a decrease in economic activity and a relative decline in consumption patterns. The cyclic inflationary crisis and the after-effects of covid 19 crisis with many companies reducing their workforce can be attributed as reasons for the increase in the unemployment rate.
During a time when the world is looking at India for its solid economic foundations, job security still remains a concern in the dynamic job market in India.
