New Delhi: Center for Monitoring Indian Economy (CMIE) revealed that India’s jobless rate climbed 7.2 per cent in February. It is the highest number since September 2016.
According to the report published in Economic Times, in February 2018, the jobless rate was 5.9 per cent.
The surprising fact that was revealed by the Head of Mumbai-based think tank, Mr. Mahesh Vyas is that the unemployment rate increased despite the fact that the job seekers decreased. Labour force participation has fallen down. It was 406 million in February last year which was 400 million in February 2019.
The report of CMIE is based on the survey of tens of thousands of household across the country.
In January, the CMIE report had claimed that in 2018, around 11 million people lost their jobs after demonetization.