India’s unemployment rate rises to 7.78 % in February, highest in 4 months

New Delhi: According to data released by the Centre for Monitoring Indian Economy (CMIE)  on Monday, India’s unemployment rate has risen to 7.78% in February. It has been the highest since October 2019 and up from 7.16 % in January.

 

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India’s economy expanded at its slowest speed in more than six years in the last 3 months of 2019. Analysts have predicted further deceleration due to global coronavirus outbreak.

 

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The data has also revealed that the unemployment rate has increased to 7.37% in February from 5.97% in the previous month in the rural areas. In the urban areas, it fell to 8.65% from 9.70%.

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