Disappointing figures on the employment front in the country, unemployment rate increased in urban areas

There were more number of appointments in the festive season. After this, the urban unemployment rate started increasing rapidly in November.

The strict lockdown imposed to contain the spread of COVID pushed the overall unemployment rate to 20.9% in the April-June quarter of 2020

On the employment front, the unemployment rate has started increasing in the urban areas of the country. The unemployment rate of people of all ages in urban areas has increased to 9.4 percent in January-March 2021. Which was 9.1 percent in the same period last year. According to the data released by the National Statistical Office (NSO), the unemployment rate among women in urban areas is more worrying. The unemployment rate for women of all age groups rose to 11.8% in the January-March 2021 quarter from 10.5% last year. Whereas in October-December 2020, this rate was 13.1 percent.

Did the Chief Economic Adviser of Bank of India speak?

The strict lockdown imposed to contain the spread of Kovid pushed the overall unemployment rate to 20.9% in the April-June quarter of 2020, raising concerns about the job situation across the country, Times of India reported. . There has been a steady improvement in the employment situation since the opening of the economy. Many states still show double digit figures for unemployment for all age groups.

Soumya Kanti Ghosh, Chief Economic Adviser, Bank of India said that the latest PLFS (Periodical Labor Force Survey) survey for the fourth quarter of FY 2021 shows that there has been a steady improvement in finance employment, while the unemployment rate during this quarter was 10.3. percentage has come down to 9.4 percent.

Who is considered unemployed?

Ghosh said, there has been a decline in the female unemployment rate which was much higher than the male unemployment rate. According to CWS (current weekly status), one is considered unemployed when one does not work for an hour on any day for seven days. According to the report, there was a sharp decline in the urban unemployment rate in the week ending September 12. The main reason for this was the high number of appointments during the festive season. After this, the urban unemployment rate started increasing rapidly in November.

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