Image has been used for representation purpose only.
India’s unemployment rate rose to 8.30% in December, the highest in 16 months from 8.00% the previous month, data from the Center for Monitoring Indian Economy (CMIE) showed on Sunday.
The urban unemployment rate rose to 10.09% in December from 8.96% in the previous month, while the rural unemployment rate declined to 7.44% from 7.55%, the data showed.
Read also: year under review. Indian economy amid global adversities
CMIE Managing Director Mahesh Vyas said that the rise in the unemployment rate was “not as bad as it looks”. Healthy rise in labor participation rateIn December it rose to 40.48%, the highest in 12 months.
“Most importantly, the employment rate has risen to 37.1% in December, the highest since January 2022,” he added. reuters,
The biggest challenge for Prime Minister Narendra Modi’s administration ahead of the 2024 Lok Sabha elections is to contain high inflation and create jobs for the millions of youth entering the job market.
The main opposition Congress party began a five-month cross-country march in September from the southern city of Kanyakumari to Srinagar in the Jammu and Kashmir region to mobilize public opinion on issues such as high prices, unemployment and what it calls “the poor”. Divisive politics of Bharatiya Janata Party
Senior Congress leader Rahul Gandhi, who is leading the party’s 3,500-kilometre (2,175-mile) march, calls for “India with a single focus on GDP growth, growth with jobs, skills of youth and export potential”. There is a need to create production capacity.” Pedestrian, told reporters on Saturday.
According to separate quarterly data compiled by the state-run National Statistics Office (NSO) and released in November, the unemployment rate declined to 7.2% in the July-September quarter compared to 7.6% in the previous quarter.
In December, the unemployment rate rose to 37.4% in Haryana, followed by Rajasthan at 28.5% and Delhi at 20.8%, CMIE data showed.