India’s unemployment rate fell to its lowest level in six months in July as steady monsoon rains are expected to boost agricultural activity in rural areas.
The overall unemployment rate dropped to 6.80% in July, from 7.80% in June. This is the lowest reading since January at 6.56%, data from private research firm Center for Monitoring Indian Economy Pvt Ltd. Shown on Monday.
The unemployment rate in rural areas fell sharply to 6.14% in July, from 8.03% in the previous month, as monsoon rains were 9% above normal on July 29. in June, rural unemployment The increase is due to less and less rainfall than normal.
urban unemployment rate Last month, however, it rose to 8.21% from 7.30% in June, suggesting the latest data may provide only short-term relief for Asia’s third-largest economy which is striving to provide more jobs. Any unfavorable monsoon pattern in August can reduce agricultural jobs.
This story has been published without modification in text from a wire agency feed.
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