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One in 4 employed lost job across India in March-April

May 06, 2020, 10:54AM ISTSource: TOI.in

A jobs crisis is staring the country in the face as several crucial sectors of the economy have been severely impacted by the coronavirus-triggered lockdown. It is threatening to push more people into poverty, engulfing both formal and informal sector workers. The latest monthly data from economic think-tank CMIE showed that India’s unemployment rate shot up to 23.5% in April. Among large states, unemployment was highest in Tamil Nadu, Jharkhand, and Bihar. Among the worst-hit are small, medium and micro enterprises, hotels and restaurants, multiplexes, retail, airlines, manufacturing, and media. This has led to job cuts as firms scampered to deal with the emergency.

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