BackIndia's unemployment rate hits 4-month high of 7.9%: CMIE
The urban unemployment rate rose to 9.30% in December while rural employment stood at 7.28%
PremiumIndia's unemployment rate reached a four-month high of 7.91% in December as compared to 7% and 7.75 per cent in November and October 2021, data from the Centre for Monitoring Indian Economy (CMIE) showed on Monday.
The unemployment rate hit its highest rate since 8.3% in August, the CMIE data shows.
The urban unemployment rate rose to 9.30% in December while rural employment stood at 7.28%. Both urban and rural unemployment saw significant rise from 8.21% and 6.44%, respectively, in the previous month.
The rise in unemployment has been attributed to muted economic activity and consumer sentiment, which has been dented due to the rise of Covid-19 cases after the emergence of Omicron variant across the world.
Meanwhile, a study conducted recently has revealed that unemployment and coronavirus are the top worries among urban Indians. Around 70% urban Indians also believe the country is moving in the right direction, according to findings of the Ipsos What Worries the World global survey for December. Indians, however, worry about unemployment with concerns around job security topping their list.
Worldwide, coronavirus has once again emerged as the top-most cause of worry due to the spread of the omicron variant. Among Indians, the pandemic is the third leading cause of worry, with concerns around the coronavirus climbing a notch compared to the last month, the researcher said.
Also read: Unemployment, coronavirus top worries among urban Indians: Survey
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
