India’s unemployment rate for November has jumped to 8%, compared with October’s 7.77%, thus hitting the highest mark in three months, data from the Centre for Monitoring Indian Economy (CMIE) showed, as per a Reuters report.
indiatimes
For the uninitiated, CMIE works as both an economic think-tank as well as a business information company.
The urban unemployment rate rose to 8.96% in November from 7.21% in the previous month, while the rural unemployment rate slipped to 7.55% from 8.04%, the data showed.
The data from the Mumbai-based CMIE is reportedly watched closely by economists and policymakers as the government does not release its own monthly figures.
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Monthwise Unemployment Rate This Year
Amidst the growing recession fears and inflation concerns, here’s how the unemployment rate has been in India this year.
January 2022- 6.56%
February 2022-8.11%
March 2022-7.57%
April 2022-7.83%
May 2022-7.14%
June 2022-7.83%
July 2022-6.83%
August 2022-8.28%
September 2022-6.43%
October 2022-7.77%
November 2022-8.0%
Now it remains to be seen whether the year’s last month, December, sees a dip or rise in the unemployment rate. In the first 11 months of 2022, January saw this year’s lowest unemployment rate at 6.56%, while the highest till now has been August’s 8.28%.
Statewise Unemployment Rate
Here’s the state-wise list of unemployment rates in India for November 2022.
Haryana had the highest rate of 30.6%, whereas Chhattisgarh had the lowest rate of 0.1%, as per the CMIE data.
Unemployment Rate (%) | |
---|---|
States (India) | Nov 2022 |
Andhra Pradesh | 9.1 |
Assam | 14.0 |
Bihar | 17.3 |
Chhattisgarh | 0.1 |
Delhi | 12.7 |
Goa | 13.6 |
Gujarat | 2.5 |
Haryana | 30.6 |
Himachal Pradesh | 8.1 |
Jammu & Kashmir | 23.9 |
Jharkhand | 14.3 |
Karnataka | 1.8 |
Kerala | 5.9 |
Madhya Pradesh | 6.2 |
Maharashtra | 3.5 |
Meghalaya | 2.1 |
Odisha | 1.6 |
Puducherry | 2.9 |
Punjab | 7.8 |
Rajasthan | 24.5 |
Tamil Nadu | 3.8 |
Telangana | 6.0 |
Tripura | 14.5 |
Uttar Pradesh | 4.1 |
Uttarakhand | 1.2 |
West Bengal | 5.4 |
Also Read: Bank Of England Expects 5 Lakh Job Losses In UK Recession
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Jobless Claims Rise To 2.4 Lakh In The US
Last week, jobless claim applications in the US rose to a three-month high mark. Unemployment claims in the US jumped by 17,000 to 240,000, Labor Department data showed. This is the highest mark since August 2022.
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This came amidst mass layoffs being done globally, including in the US. From Amazon, Meta, Intel, Ford, Microsoft, and Google to HP, many US-based giant organisations have been joining the list of companies announcing layoffs, mostly at a mass level.
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