New Delhi: Amid the slowdown in business in the country, more than 1.5 million people, both formal and informal, lost their jobs in August . According to a report by the Center for Monitoring Indian Economy (CMIE) , the number of people employed fell from 399.38 million in July to 397.78 million in August. In this one month, about 1.3 million people have lost their jobs in rural India .
According to the CMIE, the national unemployment rate rose to 8.32 per cent in July from 6.95 per cent. If we look at the data, it was 8.3 per cent in July, 10.07 per cent in June, 14.73 per cent in May and 9.78 per cent in April. In March, before the second wave of corona infections hit India, the urban unemployment rate was about 7.27 percent.
If we look at the data, the employment rate declined in August, but the employee participation rate increased slightly in the same month. The report shows that while about 30 million people were looking for work in July, 36 million people were looking for work in August.
If you look at the report, the size of the total labor force has also increased. Many companies were shut down due to the 2nd wave of Coronavirus . With the closure of these companies, it became difficult to get jobs and people to get employment.
Source: Rozana Spokesman.
