New Delhi: India’s unemployment rate reportedly increased to 8 per cent in November, the highest in three months, according to the data released by Centre for Monitoring Indian Economy (CMIE).
“The urban unemployment rate rose to 8.96 per cent in November from 7.21 per cent in the previous month, while the rural unemployment rate slipped to 7.55 per cent from 8.04 per cent,” the data showed as per a report by Reuters.
Earlier, data showed unemployment rate for persons aged 15 years and above in urban areas declined to 7.2 per cent during July-September 2022 from 9.8 per cent a year ago, according to the National Statistical Office (NSO).
Joblessness or unemployment rate is defined as the percentage of unemployed persons among the labour force. Joblessness was high in July-September 2021 mainly due to the staggering impact of Covid-related restrictions in the country.
The latest data based on a periodic labour force survey, underlining a decline in the unemployment rate amid an improved labour force participation ratio, point towards a sustained economic recovery from the shadow of the pandemic.
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