The unemployment rate – or the share of jobless people in an economy – stood at 27.1 per cent in April 2020 due to a paucity of jobs in the economyThe unemployment rate in the country spiked to an all-time high in April 2020, Mumbai-based think-tank Centre for Monitoring Indian Economy (CMIE) said on Tuesday. The unemployment rate – or the share of jobless people in an economy – stood at 27.1 per cent last month due to a paucity of jobs in the economy, as the country entered the second day of lockdown 3.0 meant to stem the spread of the dreaded COVID-19 disease. The CMIE report comes at a time when the country’s already-slowing GDP expansion stares at the economic fallout from the outbreak.
