Unemployment Rate in India: Nearly 31 million Indians are Jobless
The number of job-seeking people in India has always been on a high. As per information available on the official website of the Centre for Monitoring Indian Economy (CMIE), there are currently nearly 31 million unemployed Indians looking for jobs. CMIE is a board that tracks business and economic data of the country. It was noted that in the week ended on February 25, the unemployment rate increased to 6.1 per cent as compared to 5 per cent in January. This 6.1 per cent unemployment rate is noted to be the highest monthly rate in the past 15 months. The numbers went as low as 3.4 per cent in July 2017, unemployment rates have been increasing gradually, the CMIE data further confirmed. While the government claims that the unemployment rate in the country is falling, this data reveals an altogether different story.
The table below shows the month-wise fluctuation rate in unemployment throughout India:
|
Month
|
Unemployment
Rate (%)
|
||
|
India
|
Urban
|
Rural
|
|
|
Feb-18
|
6.06
|
6.84
|
5.65
|
|
Jan-18
|
5.04
|
6.35
|
4.36
|
|
Dec-17
|
4.76
|
5.43
|
4.42
|
|
Nov-17
|
4.76
|
5.5
|
4.38
|
|
Oct-17
|
5.05
|
6.12
|
4.49
|
|
Sep-17
|
4.65
|
5.69
|
4.12
|
|
Aug-17
|
4.11
|
5.13
|
3.58
|
|
Jul-17
|
3.39
|
4.21
|
2.98
|
|
Jun-17
|
4.15
|
4.92
|
3.76
|
|
May-17
|
4.04
|
4.89
|
3.62
|
|
Apr-17
|
3.89
|
4.25
|
3.71
|
|
Mar-17
|
4.71
|
5.86
|
4.11
|
The table below shows fluctuation rate in unemployment throughout various states of India, as noted in February 2018:
|
Unemployment Rate (%)
|
|
|
State
|
As in Feb '18
|
|
Andhra Pradesh
|
4
|
|
Assam
|
9.8
|
|
Bihar
|
7.1
|
|
Chandigarh
|
8
|
|
Chhattisgarh
|
2.7
|
|
Delhi
|
1.5
|
|
Goa
|
2.2
|
|
Gujarat
|
9.5
|
|
Haryana
|
15.3
|
|
Himachal Pradesh
|
9.7
|
|
Jammu & Kashmir
|
15.1
|
|
Jharkhand
|
7.2
|
|
Karnataka
|
5.1
|
|
Kerala
|
10.7
|
|
Madhya Pradesh
|
2.9
|
|
Maharashtra
|
3.7
|
|
Meghalaya
|
8
|
|
Odisha
|
7
|
|
Puducherry
|
2.1
|
|
Punjab
|
9.7
|
|
Rajasthan
|
6.4
|
|
Tamil Nadu
|
2.3
|
|
Telangana
|
3.5
|
|
Tripura
|
30.3
|
|
Uttar Pradesh
|
4
|
|
Uttarakhand
|
1.2
|
|
West Bengal
|
8.8
|
Ironically, the unemployment rates was observed
to have decreased after demonetization in November 2016, as jobseekers focused
on acquiring new skills instead of waiting for jobs in a hard-hitting economy.
During that period, the labour participation rate ranged
between 46 and 48 per cent before demonetization. By July 2017, it fell to
below 43 per cent. Now the CMIE expects it to go past 44 per cent by the end of
February 2018.
This brings us to the conclusion that as a new batch of students is set to graduate in May 2018, India will face a yet another jolt of unemployment. While there are about 31 million unemployed youth in India as of February, the number of job creation in 2018 is limited to an estimated 600,000.
This brings us to the conclusion that as a new batch of students is set to graduate in May 2018, India will face a yet another jolt of unemployment. While there are about 31 million unemployed youth in India as of February, the number of job creation in 2018 is limited to an estimated 600,000.
It is helpful for all unemployment candidates that there were many JOB PLACEMENT CONSULTANTS which support & give opportunities to them. During the tough times of an economic downturn, when unemployment numbers skyrocket, job seekers need all the support and guidance they can get. Unfortunately, it is a fertile period for bad recruitment agencies to ply their unethical tricks. However, there are some indicators of bad recruiting practice which, when known, will help you spot and avoid unscrupulous recruitment agencies with poor performance standards.
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