Unemployment back at pre-lockdown levels: CMIE

NEW DELHI: The unemployment rate in India, which shot up during the lockdown to 27.1 per cent in the week ending by May 3, has returned back to pre-lockdown levels in the week that ended on June 21. The rate now stands at 8.5 per cent, economic think tank Centre for Monitoring Indian Economy (CMIE) discovered.

The survey conducted by CMIE has shown that the gain can be attributed to the employment boost in rural areas. Mahesh Vyas, Managing director and CEO, CMIE, has said that bigger gains are expected to be made in the coming months in rural areas.

The unemployment rate in rural India has dropped to 7.26 per cent by June 21 and downward trend has been observed of late. The CEO of CMIE has said that the sudden increase could be attributed to Mahatma Gandhi National Rural Employment Guarantee Scheme and increase in Kharif sowing this year.