Unemployment the slow poison affecting Indian economy.
Unemployment rate get worsen in India
Corona has ruined the economy of many countries in the world! The Corona epidemic has also had a huge impact on the Indian economy. Many people lost their jobs as a result of corona last year. Thousands of people have been forced to change their profession to run their families. The savings of millions of people in the country have come to a standstill.
The country’s unemployment rate has started rising again due to the second wave of corona. In the first four months of the new year, the country’s unemployment rate was the highest in April! The country’s unemployment rate has almost doubled in the last one week. Such information has come up in the recent statistics of the Center for Monitoring Indian Economy (CMIE), an economic research institute.
Corona infection has been on the rise across the country since April. Every day millions of people are being affected by corona. The virus kills thousands of people every day. This situation has forced many to leave their jobs and return home.
Lockdown is going on somewhere in the country, so curfew is going on again somewhere. In keeping with the situation, several small and big organizations of the country have also changed the rules and procedures of work. Many have lost their jobs.
A recent survey by staffing firm Seal HR Services found that middle- to high-ranking employees of a company, even with an offer letter at first, turned it down at the last minute. More than one-third of workers or candidates said they did not want to leave their hometown to move to another city at the moment, citing a lucrative job offer.
Stastics describe the conditions of unemployment In all, the unemployment rate rose to 14.45 percent in the week ended this month. The data came from a survey by the Center for Monitoring Indian Economy (CMIE). As of May 18, the country’s unemployment rate had reached 14.45 percent.
As of May 9, the economic research firm CMIE had an unemployment rate of 7.6 percent. Unemployment rate has almost doubled in one week! The agency said the country’s unemployment rate was the highest in the past 49 weeks.
According to the latest figures from the Center for Monitoring Indian Economy (CMIE), the country’s unemployment rate in April was 7.98 percent. About 75 lakh workers lost their jobs in April compared to March! Unemployment rate in urban areas of the country reached 9.8 percent in April! In rural areas the rate is 6.13 percent.
According to the economic research firm CMIE, the employment rate was 36.7 percent in March, down from 36.7 percent in April. As a result of the lockdown, people are not able to find new jobs. That is why the participation of employees in the workplace has decreased. According to the agency, about 1.1 million jobs were cut in April.
Many are fearing that the situation will get worse in the future after seeing the report of the Center for Monitoring Indian Economy (CMIE) on the rate at which the incidence of corona infection is increasing across the country! In order to get suitable workers in urban areas, more than one company has to work hard. Concerns are also being raised about the slowdown in the manufacturing industry.
