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Unemployment doubled in a week amid the second wave of Kovid 19


Unemployment doubled in a week amid the second wave of Kovid 19 1

New Delhi. Outbreak of the second wave of Kovid 19 has almost doubled rural unemployment in a week as lockout in villages and rising Kovid infection have halted economic activities. The sluggishness in farming is increasing unemployment. Data from the Center for Monitoring Indian Economy (CMIE) show that rural unemployment rose to 14.34 per cent in the week ended 16 May, from 7.29 per cent in the week ended 9 May. As a result, rural unemployment is at a 50-week high.

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Urban unemployment also increases
If we talk about urban unemployment, then it has increased by three percent more than a week ago to 14.71 percent. The national unemployment rate rose from 8.67 per cent to 14.45 per cent, highlighting the jobs crisis amid the second Kovid wave. According to experts, the national unemployment rate may increase further in the coming weeks. Between January and April, 1 crore people have become unemployed.

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This figure also came out
According to CMIE, employment rates and labor force participation rates have decreased significantly. At the all-India level, the employment rate fell to 34.67 percent in the week ended May 16 from 37.72 percent a week earlier. During this period, the rural employment rate has come down from 39.84 per cent to 36.26 per cent. According to experts, the difference between the sowing season and the sowing till the monsoon, the absorption in the agricultural sector will be less.

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After all, why unemployment increased in villages
Economists said the high infection rate and the lack of employment opportunities due to the lockout in urban agglomerations forced people to leave their villages. But there are not enough income opportunities in rural areas. In addition, rural lockout and curfew have rendered people unemployed in both the formal and informal sectors, and a decrease in agricultural activity in May is increasing unemployment.


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