The country’s unemployment rate rose to 8.3 percent in December. This is the highest rate in 16 months, according to data from the Center for Monitoring Indian Economy. Last month’s rate was eight percent.
Urban unemployment rose to 10.09 percent from 8.96 percent in December. The figures also show that in rural areas, it has increased from 7.44 percent to 7.55 percent.
Meanwhile, CMIE Managing Director Mahesh Vyas said that this increase in the unemployment rate is not as bad as it seems. Because there has been an increase in the labor force participation rate. There has been an increase of 40.48%. This is the highest rate in 12 months.
The unemployment rate rose by 37.1 percent in December. Mahesh Vyas also said that this is the highest rate since January 2022.