During the week ended November 12, 2017, the labour participation rate (LPR) was 42.8 per cent and the unemployment rate was six per cent. In the corresponding week a year ago – during the week ended November 13, 2016 – the LPR had been higher at 45.6 per cent and the unemployment rate lower at 5.8 per cent.
Note that November 13, 2016 was the week of demonetisation. Ergo, exactly one year after demonetisation, fewer people were participating in the workforce and a lower proportion of those seeking jobs were able to find them. Is this a freak one-week phenomenon or can we ...
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