According to the CMIE’s latest data, the highest rate of unemployment was registered in the state of Haryana with 30.6 per cent.
India’s gross unemployment rate rose to 7.80 percent in June as per the latest data from the Centre for Monitoring Indian Economy’s (CMIE).
The maximum decline in employment opportunities was seen in rural areas, in the agricultural sector with the unemployment rate in rural India jumping up to 8.03 per cent in June, which was 6.62 per cent in the prior month.
According to the CMIE’s latest data, the highest rate of unemployment was registered in the state of Haryana with 30.6 per cent followed by Rajasthan at 29.8 per cent, Assam with 17.2 per cent, Jammu and Kashmir at 17.2 per cent and Bihar at 14 per cent.
CMIE managing director Mahesh Vyas told news agency PTI, “This is the biggest fall in employment during a non-lockdown month. This is basically a rural phenomenon and seasonal. The rise in unemployment in the agriculture sector is due to seasonal factors. It is most likely to be reversed in July when the sowing begins and every year the employment increases a bit in kharif.”
He further added, “while 13 million lost jobs during the reporting month, the count of the unemployed increased by only 3 million. The rest exited the labour markets as the labour force shrunk by 10 million.
“The fall in the rate of employment is mainly related to the informal market and it’s most likely to be a labour migration issue, the rest exited the labour markets as the labour force shrunk by 10 million . It is alarming that June 2022 saw a fall of 2.5 million jobs among salaried employees.
“June further revealed the growing risk of salaried posts. The government shrunk the demand for armed personnel and opportunities in the private equity-funded new-world jobs also started to shrink. The rain god cannot save these jobs. The economy needs to grow at a faster pace than it may in the near future to save and generate such jobs,” he was quoted as saying by PTI.
The economy of India need to grow , this is not a good sign for nation’s development.
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