India's Dec jobless rate hits four-month high of 7.9% -think tank | Latest News India - Hindustan Times
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India's Dec jobless rate hits four-month high of 7.9% -think tank

Reuters | , New Delhi
Jan 03, 2022 11:11 AM IST

The urban unemployment rate rose to 9.3% in December from 8.2% in the previous month while the rural unemployment rate was up 7.3% from 6.4%, the data showed.

India's unemployment rate hit a four-month high in December, data from the Centre for Monitoring Indian Economy (CMIE) showed on Monday.

Representative image(HT PHOTO)
Representative image(HT PHOTO)

The unemployment rate rose to 7.9% in December from 7.0% in November, its highest since 8.3% in August.

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Economic activity and consumer sentiment have been hit in the South Asian nation after a rise in cases of the Omicron coronavirus variant and social distancing restrictions in many states.

The urban unemployment rate rose to 9.3% in December from 8.2% in the previous month while the rural unemployment rate was up 7.3% from 6.4%, the data showed.

Many economists worry that the Omicron variant could reverse the economic recovery seen in the previous quarter.

Mumbai-based CMIE data on unemployment is closely watched by economists and policymakers as the government doesn't release monthly figures.

 

 

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