Rural sentiments upbeat in November

The consolidation of consumer sentiments in November rests upon an expectation that the economy will do well in the near- and medium-term future

Rural India performed quite well in November. The labour participation rate inched up and the unemployment rate dropped. As a result, the employment rate increased from 37 per cent in October to 37.5 per cent in November 2022. The employment rate is the most important labour market indicator and its increase indicates that a larger proportion of the working age population is employed. Even a small increase in the employment rate translates into millions of jobs. For example, the 0.5 percentage point increase in November led to the addition of 4.3 million jobs in rural India.

Urban India did not