India’s jobless rate declined to the lowest level in four months in July, adding to indications of a hopeful recovery in the economy where sales tax collections and demand for some commodities have signalled a rebound. India’s unemployment rate fell to the lowest level in four months in July to 6.95 percent. The unemployment rate was 9.17 percent the previous month, according to latest data from private research firm Centre for Monitoring Indian Economy Pvt.

While the rural jobless rate slid to 6.3 percent, urban unemployment stayed above 8 percent. The unemployment rate fell during the first four weeks ending in July. It was 7.3 per cent in the week ended July 4. It fell to 6 per cent in the week ended July 18. As the LPR jumped to over 41 per cent in the week ended July 25, the unemployment rate shot up to 7.1 per cent.

The unemployment rate has risen to 13.3 per cent in July September 2020 as compared to 8.4 per cent in the year-ago period, according to a periodic labour force survey by the National Statistical Office (NSO). Joblessness or unemployment rate (UR) is defined as the percentage of unemployed persons in the labour force. The UR was 20.9 per cent in April-June 2020, the eighth Periodic Labour Force Survey showed.

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