Sharp Rise in Unemployment Rate in February

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    According to Centre for Monitoring Indian Economy (CMIE), India's unemployment rate reached its highest rate in last 15 months in February 2018.

    Sharp Rise in Unemployment Rate in February

    It had reached a 71-week high in the week ended February 25, 2018, with over 31 million Indian unemployed or actively looking for jobs. This is the highest since October 2016.

    "The unemployment rate increased to 6.1 per cent in February 2018. It was 5 per cent in January," said CMIE's CEO and managing director Mahesh Vyas on their website.

    The article further said, "This seems to suggest that labour that is entering the labour markets in search of jobs is not finding them in sufficient numbers. The only redeeming feature is that labour is returning to the markets after they had left it in a big way after demonetisation."

    Source: cmie.com

    Read more about: unemployment rate
    Story first published: Wednesday, March 7, 2018, 12:18 [IST]
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