India’s Unemployment Rate Jumps To 16-Month High Of 8.30% In Dec 2022

| Updated: January 1, 2023 8:15 pm

India’s unemployment rate increased to 8.30% in December, the highest level in 16 months, from 8.00% in November. This was published on Sunday by the Centre for Monitoring Indian Economy (CMIE).

According to the report, the unemployment rate in urban areas increased to 10.09% in December from 8.96% the previous month while the rate in rural areas decreased to 7.44% from 7.55%. “The rise in the unemployment rate was “not as bad as it may seem,” as it came on top of a healthy increase in the labour participation rate, which shot up to 40.48% in December, the highest in 12 months,” Mahesh Vyas, Managing Director of the CMIE, said.

Before the next round of general elections in 2024, controlling high inflation and providing jobs for millions of young people entering the labour force continue to be the administration of Prime Minister Narendra Modi’s primary challenges.

From the southern city of Kanyakumari to Srinagar, in the Jammu and Kashmir region, the main opposition Congress party began a five-month cross-country march in September to mobilise public opinion on issues like high prices, unemployment, and what it claims are the divisive politics of Modi’s Bharatiya Janata party.

“India needs to move from a single focus on GDP growth to growth with employment, skilling of youth and creating production capacities with export prospects,” Congress leader Rahul Gandhi said on Saturday.

According to separate quarterly figures prepared by the state-run National Statistical Office (NSO) and released in November, the unemployment rate decreased to 7.2% in the July-September quarter from 7.6% in the preceding quarter. According to CMIE data, the jobless rate in the northern state of Haryana increased to 37.4% in December, while it was 28.5% in Rajasthan and 20.8% in Delhi.

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