COVID 19: Unemployment Rate 27.11% as of May 3 lockdown
Unemployment rate is high at 29.22% in urban areas where the red zone is located. In rural areas it is 26.69%. The migration of migrants from cities like Mumbai and Delhi to hometowns is a testament to their distrust of job security, the report said.
It added that most employment opportunities in the economy were in the disorganized sector, which had the effect of unemployment.
The corona epidemic is trembling the world, affecting all countries.
According to the Center for Monitoring Indian Economy (CMIE), the country’s unemployment rate has risen to 27 percent due to this virus.
The unemployment, which stood at 7 percent in mid-March, reached 27.11 percent as of May 3, the two-period lock-down.
From America to India ..
Due to economic activity being halted due to lockdown, migrant workers in cities like Delhi and Mumbai are worried that it will be difficult to find employment.
However, the unemployment rate has increased significantly in the US, due to Corona. Over the past few days, 2.6 crore people have lost their jobs and applied for unemployment.Home » Business »