The Centre for Monitoring Indian Economy (CMIE) in its latest data report has showed that India's unemployment rate rose to 8.30% in December 2022, the highest in 16 months, from 8.00% in the previous month.
It stated the urban unemployment rate rose to 10.09% in December from 8.96% in the previous month, while the rural unemployment rate slipped to 7.44% in December from 7.55% in the previous month. Further, it mentioned in December, the unemployment rate rose to 37.4% in the northern state of Haryana, followed by 28.5% in Rajasthan and 20.8% in Delhi.
CMIE’s managing director -- Mahesh Vyas said the rise in the unemployment rate was 'not as bad as it may seem,' as it came on top of a healthy increase in the labour participation rate, which shot up to 40.48% in December, the highest in 12 months. He asserted, most importantly, the employment rate has increased in December to 37.1%, which again is the highest since January 2022.
