Unemployment rate rises to 7.78%, highest in 4 months, reveals CMIE data

India’s unemployment rate increased to 7.78 per cent in February 2020, according to the data released by the Centre for Monitoring Indian Economy (CMIE). It is the highest since October 2019. In January, the unemployment rate was 7.16 per cent.

This downfall reflects the impact of a slowdown in the economy.

According to a report in Reuters, economy of the country expanded at its slowest pace in more than six years in the last three months of 2019, with analysts predicting further deceleration as the global coronavirus outbreak stifles growth in Asia's third-largest economy.

The unemployment rate increased to 7.37 per cent in February from 5.97 per cent in rural ares during the previous month. Whereas in urban areas, it fell to 8.65 per cent from 9.70 per cent, the data released by CMIE said.