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India's unemployment rate rises to 3-month high of 7.8% in March: CMIE data

Higher borrowing costs are already weighing on India's economy, data show

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Unemployment rate rises to 3-month high of 7.8% in March, says CMIE

India's unemployment rose to a three-month high in March to 7.8 per cent as the country's labour markets deteriorated, according to data from the Centre for Monitoring Indian Economy (CMIE). Unemployment rate in the country surged in December 2022 to 8.30 per cent but declined in January to 7.14 per cent. It edged up again in February to 7.45 per cent, the CMIE data released on Saturday showed. During March, the unemployment rate in urban areas was at 8.4 per cent while in the rural areas it was at 7.5 per cent. "India's labour markets deteriorated in March 2023. The unemployment rate increased from 7.5 per cent in February to 7.8 per cent in March. The effect of this is compounded by the simultaneous fall in the labour force participation rate, which fell from 39.9 per cent to 39.8 per cent," CMIE managing director Mahesh Vyas told PTI. This led to a fall in the employment rate from 36.9 per cent in February to 36.7 per cent in March, Vyas said, adding that employment fell from 40

Consumer sentiments improve

While the relatively richer and poorer households have seen their consumer sentiments spurt, the middle income households have seen slower growth in their sentiments

Employment in agriculture soars in Maharashtra

The largest provider of employment in Maharashtra is the agricultural sector

Consumer sentiments high on expectations

We see a fairly remarkable improvement in the Indian consumer sentiments during the first 10 weeks of 2023

Employment inches up in urban India

There was a marginal improvement in India's labour participation rate to 39.92% in February compared to 39.8% in January 2023

Consumer sentiments improve, but still too low

The recovery in consumer sentiments from the pandemic has been the slowest among all economic indicators

Unemployment rate falls, but still too high

India, incidentally, was the fastest country to report the unemployment rate for the month of January 2023

Education challenges of employment

India suffers from a poorly educated workforce that is confined to poor quality jobs. Most employment is informal and in the unorganised sector

Consumer sentiments to remain buoyant

Small traders and daily wage labourers had recorded a sharp 22 per cent increase in their ICS between June and September 2022

Uptick in female labour force participation

Around 0.28 million women aged 20-29 entered the labour force in this period, according to CMIE's Consumer Pyramids Household Survey data

Divergent consumer sentiments

The Index of Consumer Sentiments shrunk by 0.9% in December 2022 after having declined by 1.7% in November

Unemployment rate rises to 16-month high of 8.30% in Dec 2022: CMIE

The urban unemployment rate rose to 10.09% in December from 8.96% in the previous month, while the rural unemployment rate slipped to 7.44% from 7.55%, the data showed

Unemployment rate rising in December

The unemployment rate was over 8% in all three weeks that ended in December

Big enterprises are better employers

Average wages paid by listed companies is more than twice the salaries paid by other enterprises

Unemployment rate rises to three-month high at 8% in November: CMIE

The country's unemployment rate rose to a three-month high at 8 per cent during November, according to data by the Centre for Monitoring Indian Economy (CMIE). The unemployment rate in urban India was higher at 8.96 per cent, while in rural areas, it was at 7.55 per cent, the CMIE data showed on Thursday. In October this year, the urban joblessness was at 7.21 per cent and the rural unemployment rate was at 8.04 per cent. Among the states, Haryana continued to have the highest unemployment rate in the country in November at 30.6 per cent, followed by Rajasthan at 24.5 per cent, Jammu and Kashmir at 23.9 per cent, Bihar at 17.3 per cent and Tripura at 14.5 per cent. The states that witnessed the least unemployment rate in the previous month are Chhattisgarh at 0.1 per cent, Uttarakhand 1.2 per cent, Odisha at 1.6 per cent, Karnataka 1.8 per cent and Meghalaya at 2.1 per cent. India's unemployment rate in October was at 7.77 per cent, while in September it was at a low of 6.43 per c

Minorities face little bias in labour markets

The major religious minorities - Muslims and Christians - have withdrawn from the labour markets more than the majority faith. But again, the difference is not alarming

Consumer sentiments to sustain elevated levels

Sentiments have neither collapsed, nor have they stepped down after the festive season. They seem to have sustained the elevated levels they had achieved during the festive season

Salaried jobs recover

Salaried jobs declined from 86 million in September 2022 to 84.7 million in October