• 2 hours ago

Unemployment rates spikes to 27.1% in April: CMIE report

May 05, 2020, 06:32PM ISTSource: Mirror Now

India's unemployment rate rose to 27.1 per cent in April 2020 amid novel coronavirus lockdown, a report said. The extended lockdown is only expected to further hit the labour market conditions, according to the Centre for Monitoring Indian Economy (CMIE) report. 12.2 crore jobs lost in the month of April 2020 and the unemployment rate is all time high. Relevantly, the lockdown, imposed first on March 24 in the wake of the COVID-19 pandemic, was to end on May 3. However, it has been extended by another two weeks by the MHA.

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