The unemployment rate rose to an eight-month high in June by 9.2 per cent, up from 7 per cent in May, data from Centre for Monitoring Indian Economy (CMIE) said.
Unemployment (Photo: iStock)
The unemployment rate rose to an eight-month high in June by 9.2 per cent, up from 7 per cent in May, data from Centre for Monitoring Indian Economy (CMIE) said.
In June 2023, the unemployment rate was 8.5 per cent. The numbers are based on the Consumer Pyramids Household Survey that CMIE conducts periodically.
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As per the data, the female unemployment rate was higher than the national average at 18.5 per cent in June 2024 compared to 15.1 per cent in the same month last year.
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The male unemployment rate stood at 7.8 per cent compared to 7.7 per cent in the same month last year.
Rural areas continue to experience higher unemployment rates, with joblessness growing to 9.3 per cent in June 2024 from 6.3 per cent in May 2024 and 8.8 per cent in June 2023.
In the rural areas, for males, the rate rose to 8.2 per cent in June 2024 from 5.4 per cent in May, and for females to 17.1 per cent from 12 per cent in the same period.
Urban areas saw a smaller increase, with the rate climbing to 8.9 per cent in June 2024 from 8.6 per cent in May. Women saw a steeper rise in urban areas as well (21.36 per cent in June 2024 compared to 18.53 per cent in May).
It is to be noted that the rise in unemployment comes even amid a higher Labour Participation Rate (LPR).
In June, the labour participation rate improved marginally, rising to 41.4 per cent in June 2024 from 40.8 per cent in May.
Male and female labour participation rates reached 68.1 per cent and 11.3 per cent, respectively in June.
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