The fall in the unemployment rate is doubly appealing as it is accompanied by an increase in the labour participation rate
While the main labour market metrics indicate an improvement in May compared to April, the labour market conditions still remain much weaker than they were before the lockdown
The labour participation rate trend seems to tell a story of some interesting changes in the labour markets
The small relaxations in the lockdown since April 20 have not had any positive impact on the unemployment rate, yet
Over 27 million youngsters in their 20s lost their jobs in April. This has serious long-term repercussions. It is during this age that young India builds its career in the hope of a bright future
The count of the unemployed who were actively looking for jobs during the week of April 26 was around 76 mn. In the earlier weeks, it was close to 100 mn
The labour participation rate has similarly fallen further from 35.5 per cent to 35.4 per cent and, the employment rate has now fallen to 26.1 per cent compared to 27 per cent in the earlier week
The economic impact of this lockdown by design is evidently huge. Its impact on the livelihood of vulnerable sections of society is immeasurably bigger
The impact of the shutdowns on the economy would show up later; but the shutdowns would help contain the spread of the virus
Labour force participation rate among young women in the age bracket 20-24 years was 14.3 per cent in the September-December 2019 period
The Misery Index is the arithmetical sum of the unemployment rate and the inflation rate
In recent months, the monthly unemployment rate seems to have stabilised at just below 7.5 per cent
Nothing speaks better than money on the table. The government just reduced its intention to spend on jobs on 2020-21
About 30 million people under 30 years of age had a salaried job in 2016. By 2019, this number dropped by five million to 25 million. This decline is as intriguing as it is disturbing
Graduates between 20 and 29 years of age, face a much higher unemployment rate of 42.8 per cent. This is India's real challenge
At a macro-level, the Indian corporate sector has stopped investing into new capacities for all practical purposes
During the last quarter of 2019, the employment ratio was down to 39.5 per cent. This is the lowest employment ratio seen in India during any quarter
Today's joblessness is also followed by heightened nationalism
Preliminary and partial data for December indicate that labour participation is recovering from the November fall, but perhaps, not enough to make November look like an aberration
The process of creating a National Register of Citizens would be highly disruptive for labour markets in particular and for the economy as a whole