The Unemployment Rate In The Country Again In May Is About 12 %
Unemployment : The center walked down the lockdown last year to cope with Corona’s first push. The country witnessed the loss of many workers in that period. In April and May of 2020, the unemployment rate exceeded 20%. Now, in the second wave of Covid that rate is going up again. According to CMIE, the unemployment rate last month was 11.9%. In urban and rural areas it is 14.63% and 10.63% respectively.
According to experts, states have recently taken stricter measures such as local restrictions and lockdowns to prevent a second storm of covid. As a result, unemployment has risen again. According to them, the Unemployment rate in the country had crossed 10 percent by mid-May. Especially in the city, it is growing steadily. As an overall reflection of which, the picture of the job market is gradually fading.
According to CMIE chief Mahesh Beas, the number of jobs in the country has come down from 39.08 crore in April to 37.55 crore in May. In other words, in just one month, about one and a half crore people have lost their jobs! Which increased the Unemployment rate by 3.9 percentage points. This is not the case in April last year (when 11.4 crore jobs were lost), but it is still in decline. About 2.53 crore jobs have been lost in the country since January.
There is no relief as a weekly. In the week ended May 30, Unemployment rose in Delhi (45.6%), Haryana (29.1%), Rajasthan (26.7%) and other states. The rate in West Bengal is 19.3%. Even a week ago, the rate was 7.6%.
The concern of some economists is that the economy is being pushed by the recent austerity measures in the states, and many more people are likely to lose their livelihood in the coming days.