India’s Unemployment Rate Hits Four-Month High Of 7.9% In December: CMIE
Mumbai: India’s unemployment rate hit a four-month high in December, data from the Centre for Monitoring Indian Economy (CMIE) showed.
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 in the South Asian nation have been hit after a surge in cases of the Omicron coronavirus version and social distancing restrictions in several states.
The data showed that the urban unemployment rate rose to 9.3% in December from 8.2% in the previous month, while the rural unemployment rate rose to 7.3% from 6.4%.
Many economists worry that the Omicron version could reverse the economic recovery seen in the last quarter.
Mumbai-based CMIE data on unemployment is closely watched by economists and policymakers as the government does not release monthly figures.
Follow us on Twitter, Instagram, and like us on Facebook for the latest updates and interesting stories.
