According to information provided by research firm Centre for Monitoring India Economy (CMIE), India’s jobless rate increased to 8.11 percent in April from 7.8 percent in March, the highest level since December. In April, the employment rate increased to 38.57%, the highest level since March 2020.
Urban unemployment increased to 9.81% from 8.51% during the same period, while rural unemployment slightly decreased to 7.34% in April from 7.47% in March.Mahesh Vyas, the head of CMIE, stated in an editorial in a leading business daily that “the unemployment rate increased due to a rise in the labour participation rate.”
In April, India’s labour force grew by 25.5 million individuals to 467.6 million, presumably as a result of optimism about finding work,” he continued, adding that April saw the greatest labour participation rate in three years at 41.98%.
A total of 22.1 million new jobs were created throughout the month, allowing about 87 percent of this growing labour force to find employment.
More jobs were created in rural areas, according to CMIE data. Only 54.8% of job seekers in urban areas found new jobs, compared to about 94.6% of those who entered the labour force in rural areas.
