PremiumIndia’s jobless rate in July dropped to the lowest in six months as steady monsoon rains likely boosted agriculture activity in rural areas
India’s jobless rate in July dropped to the lowest in six months as steady monsoon rains likely boosted agriculture activity in rural areas.
The overall unemployment rate eased to 6.80% in July, from 7.80% in June. That’s the lowest reading since 6.56% in January, data from private research firm Centre for Monitoring Indian Economy Pvt. on Monday showed.
The jobless rate in rural areas fell sharply to 6.14% in July, from 8.03% in the previous month, as monsoon rainfall was 9% above normal as of July 29. In June, rural unemployment increased as rains were below normal and patchy.
Urban unemployment rate last month, however, climbed to 8.21% from 7.30% in June, suggesting that the latest data may offer only short-term relief for Asia’s third-largest economy striving to provide more jobs. Any adverse monsoon pattern in August could curtail farm jobs.
This story has been published from a wire agency feed without modifications to the text.
