Just when things seemed to be looking up in July — with the unemployment rate falling from 9.17 per cent in June, to 6.95 per cent in July — joblessness is again becoming a cause for concern. The unemployment rate rose to 8.32 per cent in August, as per the report by the Centre for Monitoring Indian Economy (CMIE).
In Urban India, the unemployment rate has risen from 8.30 per cent in July, to 9.78 per cent in August. In rural India, the rate has risen from 6.34 per cent in July to 7.74 per cent in August.
In June 2021, the national unemployment rate stood at 9.17 per cent, with urban unemployment rate at 10.07 per cent and rural unemployment rate at 8.75 per cent. The figures had improved significantly in July, with urban unemployment rate dropping to 8.30 per cent and rural unemployment rate dipping to 6.34 per cent. This was of course far better than the figures for May 2021, when the national unemployment rate stood at 11.90 per cent, and the urban and rural rate at 14.73 and 10.63 per cent, respectively.
India has been struggling in terms of the employment market. Despite the economy slowly limping back to normal, quite a few states are reeling under double-digit unemployment rates. There was some respite when sowing activity had peaked during the monsoons. However, the additions made in terms of jobs in July, were rather low-quality informal jobs that may not last long.