Inflation has resulted in widespread depletion, while the country's unemployment rate has reached a six-month high. The country's unemployment rate increased to 8.1% in february, up from 1.5 percent in January. The data was released by the Center for Monitoring the indian Economy (CMIE).
Unemployment fell to a 10-month low of 6.57 percent in january, but the country's unemployment rate skyrocketed in february due to declining employment in rural areas, according to a recent report.
According to CSIE data, rural unemployment increased by 2.51% to 8.35% in february 2022; on the other hand, the city's unemployment rate was 7.55% last month. This was the lowest rate in four months.
According to the CMIE, the country's unemployment rate peaked in May of last year at 11.84 per cent. In the new year, january 2022, the unemployment rate was around 6.57 per cent. Unemployment, on the other hand, increased in February.
The CMIE conducts a survey of people over the age of 15 to collect information on employment status. The results are then used to generate the unemployment rate report. If the unemployment rate is 6.5 percent in a given month, it means that 65 people out of 1000 are still unemployed.
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