The problems on the unemployment front don’t seem to be diminishing. According to the CMIE report, the country’s unemployment rate rose to 7.14 percent for the week ended July 25, up from 5.98 in the week ended July 18. Moreover, unemployment has increased rapidly in both the village and the city.
According to the report, urban unemployment rose to 8.1 percent during the period under review. However, for the week ended July 18, it was up 7.94 per cent. Rural unemployment rose to 6.75 per cent from 5.1 per cent in the previous week. But the unemployment rate fell on a monthly basis, which is a matter of compensation, the report said. In June, the unemployment rate fell below 10 percent. The unemployment rate has declined due to the rise in economic activity since the second wave in June, the report said.
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Meanwhile, Nomura’s India Business Reasoning Index fell 95.3 per cent from 96.4 per cent in the previous week. This is still 4.7 per cent below the pre-Corona level, the report said.
