Labour markets disappoint in Dec

The count of the unemployed mounted to 38.7 million in December 2020 compared to 27.4 million in November, registering a massive increase of 11.3 million

The unemployment rate rose sharply to 9.1 per cent in December 2020. This is the highest unemployment rate since the beginning of India’s recovery in June after the lockdown. It is also a steep increase from the 6.5 per cent unemployment rate pencilled in November. The unemployment rate was seen rising steadily in the weekly estimates during December. The week ended December 6 saw it rise to 8.4 per cent. The rate then rose to 9.9 per cent and 10.1 per cent in the following two weeks before moderating to 9.5 per cent in the last week.

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