New Delhi: The unemployment rate in India was the highest in the last four months in the month of February. The latest data from CMIE has revealed this information.
Showing the impact of the slowdown in the economy, the Center for Monitoring Indian Economy (CMIE) released the data on Monday (2 March). According to the data, India’s unemployment rate rose to 7.78% in February, the highest since October 2019. The rate was 7.16% in January.
In the last three months of 2019, India’s economy grew at the lowest pace in the last six years. Analysts speculated that one of the reasons for the slowdown in Asia’s third-largest economy is the outbreak of coronovirus globally.
The unemployment rate in rural areas increased to 7.37% in February from 5.97% in the previous January. At the same time it decreased from 9.70% to 8.65% in urban areas. CMEI is a Mumbai-based think-tank.