NEW DELHI : India’s unemployment rate dropped to 23.97% in the week ended 10 May as the government lifted some curbs on economic activity, including farming, after a month-long lockdown, according to a private survey.
The job loss rate was 27.11% in the week ended 3 May, according to the Centre for Monitoring Indian Economy (CMIE). Rural unemployment rate declined four percentage points, indicating some farming activity has resumed during the harvest season.
The urban jobless rate, on the other hand, declined more modestly, underlining the fact that cities are still struggling to recover as covid-19 cases continue to rise.