Unemployment rate exceeds 27% in lockdown: CMIE

BusinessUnemployment rate exceeds 27% in lockdown: CMIE

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Unemployment rate exceeds 27% in lockdown: CMIE

New Delhi: India’s unemployment rate has risen by more than 27% due to the nationwide lockdown. According to data released by the Center for Monitoring Indian Economy (CMIE), India’s unemployment rate for the week ending May 3 has been recorded at 27.11%. The unemployment rate in mid-March before the lockdown was less than seven percent.

According to CMIE, the unemployment rate in urban areas is higher than in the village. It has been recorded 29.22 percent in cities and 26.69 percent in rural areas. Significantly, in the third phase of the lockdown, the country is divided into red, orange and green zones. Most red zones are in urban areas only.

According to CMIE, the unemployment rate was 8.74 percent in March and 23.52 percent in April. State-wise, the highest unemployment rate in April was 75.8% in Puducherry. It was followed by Tamil Nadu at 49.8 per cent, Jharkhand at 47.1 per cent, Bihar at 46.6 per cent, Haryana at 43.2 per cent, Karnataka at 29.8 per cent, Uttar Pradesh at 21.5 per cent and Maharashtra at 20.9 per cent. It is relatively less in the hilly states. The unemployment rate in Uttarakhand has been 6.5 percent, Sikkim 2.3 percent and Himachal Pradesh 2.2 percent.

To control the corona virus, the Prime Minister announced a lockdown across the country from March 25 and since then analysts have been anticipating the unemployment rate to rise. Migrant laborers from all metros, including Delhi and Mumbai, are returning to their homes due to economic activities being almost stopped. In the last week of March, the government announced a package of Rs 1.7 lakh crore. It was especially for the poor. The second relief package has been under consideration in government departments for more than 2 weeks.

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