Unemployment at 45-year-high; fears of recession

Employment, Jobs, CMIE
Photo: Pixabay

Confirming unemployment rate projected in a pre-election leaked report, the government on May 31 said joblessness in the country was 6.1 per cent of total labour force during 2017-18, the highest in 45 years.

The data released by the Labour Ministry on a day when the Modi 2.0 Cabinet took charge, showed 7.8 per cent of all employable urban youth being jobless, while the percentage for the rural was 5.3 per cent.

The joblessness among males on all India basis was 6.2 per cent, while it was 5.7 per cent in case of females.

Chief Statistician Pravin Srivastava, however, emphasised that the latest labour survey cannot be compared with previous ones and said that he doesnt want to “claim that is 45-year low or high” as it is a different matrix.