New Delhi: Amid the lockdown implemented across the country, the unemployment rate has decreased in the week ending 26 April. The unemployment rate this week was 21.1 percent, which is much lower than its previous week's 26.2 percent. The latest report of the Center for Monitoring Indian Economy (CMIE) has given information in this regard.
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More than 7 crore people have left work during the lockdown. This is the lowest unemployment rate during a nationwide lockdown. However, the unemployment rate is still quite high. It is noteworthy that according to an earlier CMIE report, the unemployment rate in March reached the highest level of 8.7 percent in the last 43 months.
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However, in the week ending 26 April, it is a matter of concern that the labour participation rate has declined further. According to the report, the unemployment rate in the entire lockdown period was 21 to 26 percent, but during this time the labour participation rate has come down every week. Labour participation fell to 42.6 per cent in the week before the March 22 lockdown but fell further to 35.4 per cent in the week ending 26 April. This means that about 7.2 per cent of the working population left work.
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