NEW DELHI : The urban job loss rate dropped 8 percentage points in the first week of June from the preceding seven days, in a sharper-than-expected turnaround as the government lifted nearly all lockdown-related curbs, allowing factories and offices to reopen.Urban unemployment fell to the lowest level since the lockdown was announced at 17.08% in the week to 7 June from 25.14% in the week ended 31 May, according to data released by Centre for Monitoring Indian Economy (CMIE).
The rate is expected to decline as more economic activities such as hospitality sector open up.The reduction in the number of jobless people in urban areas indicates the economy is slowly recovering from the government-imposed shutdown to stem the spread of the.