India’s Unemployment Rate Falls To Four-Month Low Of 7.14% In January
According to information released on Wednesday by the Centre for Monitoring Indian Economy (CMIE), the jobless rate in India decreased to a four-month low of 7.14 percent in January. Based on the CMIE data, the unemployment rate in December 2022 was 8.30%, compared to 8.0% in November and 6.43.0% in September.
According to the report, rural unemployment was 6.48 percent in January and urban unemployment was 8.55 percent. Jammu and Kashmir had the highest unemployment rate among the states at 21.8%, followed closely by Haryana (21.7%) and Rajasthan (21.1%).
According to the report, the unemployment rate in January in Delhi was 16.7%, Goa was 16.2%, Assam was 16.1%, and Tripura was 16.0%.
It also showed that states like Chhattisgarh, where unemployment is at 0.5%, is the lowest, followed by Odisha, where it is at 1.5%, Tamil Nadu, where it is at 1.8%, and Madhya Pradesh, where it is at 1.9%.
“It is safe to say that employment has improved over the last few quarters, however, we still have a long way to go given each year in absolute terms we have added nearly 20 million to the workforce making the gap wider day by day,” TeamLease Services co-founder and executive vice president Rituparna Chakraborty said.
Aditya Narayan Mishra, managing director and CEO of CIEL HR Services, stated that January 2023 had the lowest unemployment rate over the previous three months, making it a strong start to the year.
He said that different economic and geopolitical reasons have been causing the unemployment rate to fluctuate over the past few months.
Initiatives to improve people’s abilities will enable them to meet the requirements of various sectors’ hiring needs, Mishra continued.
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