Arthanomics Vittarth

EFFECT OF PANDEMIC AND LOCKDOWN ON UNEMPLOYMENT RATE

his edition of #Arthanomics brings to you the unemployment profile of #India Unemployment may be defined as “a situation in which the person is capable of working both physically and mentally at the existing wage rate, but does not get a job to work”. The #unemploymentrate in India has historically been around 6 to 10 percent. The unemployment rate in February was 7.76% and 8.75% in March, as a result of the continuing #economicslowdown. But the #lockdown over the past few months has aggravated the joblessness, as evident in the spike in unemployment in April and May. This declined to 11.6% in the second week of June as against 17.5% the previous week, CMIE revealed.

This indicates a shift towards levels before the #COVID19 outbreak and consequent lockdown, which began on March 25.

Credits – Arun Rao Shivani Patel Kimaya Potdar

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