Despite high unemployment rate of 23.5% in May, India added 21 million jobs, says CMIE
Pointing out towards the share of small traders and wage workers in the total share of 21 million, the CMIE report underlined that of the 21 million jobs added in May, 14.4 million were of small traders and wage labourers, a massive increase of 39%
- Jun 2, 2020,
- Updated Jun 2, 2020 4:39 PM IST
India's unemployment rate remained high at 23.5% in May 2020, same as April, reflecting the impact of COVID-19 pandemic, according to weekly data released by the Centre for Monitoring Indian Economy (CMIE). However, owing to better and improved market conditions in May, 21 million people got jobs in the said month, the data added.
The report added that the labour participation rate "improved from 35.6 per cent to 38.2 per cent and the employment rate improved from 27.2 per cent to 29.2 per cent."
It further stated that the main labour market metrics "indicate an improvement in May when compared to April however, the labour market conditions continue to remain much weaker than they were before the coronavirus-induced lockdown over two months ago.
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India's unemployment rate remained high at 23.5% in May 2020, same as April, reflecting the impact of COVID-19 pandemic, according to weekly data released by the Centre for Monitoring Indian Economy (CMIE). However, owing to better and improved market conditions in May, 21 million people got jobs in the said month, the data added.
The report added that the labour participation rate "improved from 35.6 per cent to 38.2 per cent and the employment rate improved from 27.2 per cent to 29.2 per cent."
It further stated that the main labour market metrics "indicate an improvement in May when compared to April however, the labour market conditions continue to remain much weaker than they were before the coronavirus-induced lockdown over two months ago.
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