Lockdown Diaries: 75 lakh people lose jobs in April & unemployment rate at a 4-month high
The second wave of COVID-19 which hit like a tsunami to the indian economy is the worst when compared to the first one. The result: A localised lockdown throughout india has impacted over 75 lakh jobs. The Centre for Monitoring indian Economy (CMIE) said on May 3rd said that this huge number has taken the unemployment rate to a four-month high of 8 per cent.
The worst situation on the employment front is expected to continue in the following months to come and it will definitely will be a challenge to the working-class society. CMIE's managing director and chief executive mahesh Vyas said that the worst phase in terms of employment will drastically affect the income levels of the people.
“In the month of april, compared to march, we have lost 75 lakh jobs. That is what has caused the jump in the unemployment rate,” he told the reporters.
To look at the numbers, the national unemployment rate touched 7.97 percent as per the centre's proprietary data. Out of which the urban areas witnessed the higher stress at 9.78 per cent and rural joblessness was at 7.13 percent.
According to the data, the national unemployment rate had stood at 6.50 per cent in march, and the unemployment number on both rural and urban front was lower.
The worst situation on the employment front is expected to continue in the following months to come and it will definitely will be a challenge to the working-class society. CMIE's managing director and chief executive mahesh Vyas said that the worst phase in terms of employment will drastically affect the income levels of the people.
“In the month of april, compared to march, we have lost 75 lakh jobs. That is what has caused the jump in the unemployment rate,” he told the reporters.
To look at the numbers, the national unemployment rate touched 7.97 percent as per the centre's proprietary data. Out of which the urban areas witnessed the higher stress at 9.78 per cent and rural joblessness was at 7.13 percent.
According to the data, the national unemployment rate had stood at 6.50 per cent in march, and the unemployment number on both rural and urban front was lower.