Unemployment Rate: Army of unemployed increased in April, demand for work under MNREGA declined – India’s unemployment rate surges to four-month high demand for mgnrega is falling
[ad_1]
CMIE chief Mahesh Vyas said that the unemployment rate in the country has increased due to the increase in the labor participation rate. The country’s labor force increased by 2.55 crore to reach 46.76 crore in April. Out of this, about 87 percent people were successful in getting employment. The reason for this is that 2.21 crore additional jobs were created in April. The employment rate increased to 38.57 percent in April, which is its highest level since March 2020. Vyas said that the increase in labor participation rate and employment rate in April proves that people’s desire to get employment has increased.
four month top level
Employment opportunities increased in rural areas as compared to urban areas in April. In rural areas, 94.6 per cent of the labor force got employment while in urban areas only 54.8 per cent got new jobs. According to CMIE data, the demand for employment under MNREGA is declining in rural areas.
The unemployment rate in the country had reached 8.3 per cent in December 2022 but it fell to 7.14 per cent in January. It picked up again in February and reached 7.45 per cent. It reached 8.11 per cent in April. The RBI had said in its April bulletin that the demand for work under MGNREGA has been declining since January. The reason for this is that the area under sowing of crops has increased and there has been a recovery in employment in the informal sector.
[ad_2]
Source link
