India’s unemployment rate hit a four-month high in December, data from the Centre for Monitoring Indian Economy (CMIE) showed
Last Updated at January 3, 2022 10:28 IST
NEW DELHI (Reuters) -India’s unemployment rate hit a four-month high in December, data from the Centre for Monitoring Indian Economy (CMIE) showed on Monday.
The unemployment rate rose to 7.9% in December from 7.0% in November, its highest since 8.3% in August.
Economic activity and consumer sentiment have been hit in the South Asian nation after a rise in cases of the Omicron coronavirus variant and social distancing restrictions in many states.
Urban unemployment rate rose to 9.3% in December from 8.2% in the previous month while the rural unemployment rate was up 7.3% from 6.4%, the data showed.
Many economists worry that the Omicron variant could reverse the economic recovery seen in the previous quarter.
Mumbai-based CMIE data on unemployment is closely watched by economists and policymakers as the government doesn’t release monthly figures.
(Reporting by Manoj Kumar; Editing by Himani Sarkar and Sam Holmes)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
First Published: Mon, January 03 2022. 10:28 IST