Unemployment Rate Rises: Big blow for the government. The unemployment rate has increased in the country in the month of June. The unemployment rate in the country has increased to 7.80 percent in June. Last month, 1.3 crore people lost their jobs in the agriculture sector, due to which unemployment has increased. CMIE has given information about this by releasing the data.
Rate reached 8 percent in June
According to data from the Center for Monitoring Indian Economy (CMIE), an economic research institute, the unemployment rate in rural areas rose to 8.03 percent in June, from 7.30 percent in May. In urban areas, the situation was better and the unemployment rate was recorded at 7.3 per cent, as against 7.12 per cent in May.
Know what the director of CMIE said?
CMIE Managing Director Mahesh Vyas told the media that such a reduction in employment is the biggest decline in the month without lockdown. It is mainly in villages and is seasonal. Activities in the agriculture sector in villages are sluggish and the situation is expected to turn around with sowing starting in July.
1.3 crore jobs lost
He said that 1.3 crore jobs were reduced in the month under review, but unemployment increased by only 30 lakhs. Vyas said that other workers were out of the labor market. There was a reduction of one crore in the workforce. This reduction has mainly happened in the unorganized sector. It is probably largely a matter of labor migration and not economic slowdown.
effect of monsoon
Vyas said, “It is worrying that such a large number of workers have been affected by the monsoon.”
Increased concern about job loss
Concerns have also increased over the reduction in salaried jobs in June. The government reduced the demand for armed forces and opportunities in private equity-funded jobs began to dwindle. These jobs cannot be saved only by a good monsoon. The economy needs to grow at a fast pace in the near future to save and generate such jobs.
How much was the rate in which state?
According to the data, the highest rate of unemployment was in Haryana at 30.6 percent. This was followed by 29.8 percent in Rajasthan, 17.2 percent in Assam, 17.2 percent in Jammu and Kashmir and 14 percent in Bihar respectively.