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India’s unemployment rate rises to 8.5% in October: CMIE

04 Nov 2019 Evaluate

The Centre for Monitoring Indian Economy (CMIE) in its latest data has showed that India’s unemployment rate rose to 8.5% in October 2019, the highest level since August 2016. According to data, the urban unemployment rate for October 2019 stood at 8.9%, slightly higher than the rural unemployment rate of 8.3%.

Among States, Tripura and Haryana saw unemployment levels of more than 20% (the highest), while the unemployment was the lowest in Tamil Nadu at 1.1%. Rajasthan saw its unemployment rate double between September and October 2019.

The CMIE’s figures are in line with the findings of the latest Periodic Labour Force Survey, which had estimated an unemployment rate of 6.1% between July 2017 and June 2018, the worst in 45 years. The data also comes on the back of other indicators showing a downturn in the economy, including the core sector output in September posting its worst contraction in at least 14 years. Earlier, August’s industrial output shrank at its fastest rate in more than six years.

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