The unemployment rate for the month is highest since August 2016, reflecting an overall economic downturn in the country
India’s unemployment rate rose to a three-year high of 8.48 per cent in October, up from 7.2 per cent in September, says the data released by the Centre for Monitoring Indian Economy (CMIE) on Friday. The unemployment rate for the month is highest since August 2016, reflecting an overall economic downturn in the country. The unemployment rate in September was 7.16 per cent, while it was 8.19 per cent in August. The last time the unemployment rate was higher was in August 2016 at 9.59 per cent.
However, employment in India increased by 25 lakh between May and September 2019, the CMIE data said. As per CMIE data, an estimated 40.49 crore persons were employed in India during May-August 2019, compared to 40.24 crore people employed during these months a year ago.
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