Unemployment

Unemployment Rate Rose to 7.78% in February

NEWS

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  • According to the CMIE report, fewer people are employed in rural areas
  • Unemployment in urban areas was 8.65% in February as compared to 9.70% in January

New Delhi. Employment opportunities decreased in the country in February. During this period the unemployment rate rose to 7.78%. This is the highest in four months. The unemployment rate increased by 0.62% over January. The data came out in a report released on Monday by the Center for Monitoring Indian Economy (CMIE). According to the report, the unemployment rate in February 2020 has been the highest since October 2019. The unemployment rate in October was 8.10.

The report said that the economic slowdown is impacting the economy. The growth rate of the Indian economy has reached a six-year low in the last three months of 2019. Analysts have expressed the possibility of further economic slowdown due to the coronavirus spreading in China.

Increased Unemployment In Rural Areas

CMIE report said that fewer people got employment in rural areas in the month of February. Due to this, the unemployment rate in rural areas has increased to 7.37% in February from 5.97% in January. The unemployment rate in the urban area has registered a decrease and has come down to 8.65% in February from 9.70% in January. CMIE Mumbai Best is a private think tank.

Unemployment Rate During The Last Six Months

Month Unemployment rate
February 2020 7.78%
January 2020 7.16%
December 2019 7.60%
November 2019 7.23%
October 2019 8.10%
September 2019 7.16%