Unemployment rates in India rose to 7.83% in April from 7.60% in March, data from the Center for Monitoring Indian Economy (CMIE) showed on Sunday. Unemployment dropped to 7.18% from 7.29%, the figures said.The highest unemployment rate of 34.5% was recorded in the northern province of Haryana, followed by 28.8% in Rajasthan. Economists say job opportunities have been hit by volatile domestic demand and a slowdown in economic recovery amid rising inflation. Learn more
Inflation inflation rose to 6.95% in 17 months in March, and could rise by almost 7.5% later this year, Shilan Shah, an economist at Capital Economics, Singapore, said in a statement on Saturday. He expects the central bank to raise the repo rate in June. Information from CMIE based in Mumbai is being monitored by economists and policy makers as the government does not release its monthly statistics.
They were also looking at declining staff participation – the number of people employed or looking for work among working people. That decrease to 39.5% in March 2022 from 43.7% in March 2019, according to previous CMIE data, as millions lost their jobs during the violence.
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