India's unemployment rate declined to "a pre-lockdown level of 8.5 per cent" in the week ended June 21, think-tank Centre for Monitoring Indian Economy (CMIE) said on Monday. Earlier, the rate had spiked to 27.1 per cent in the week ended May 3, compared to 8.75 per cent in March.
"Many towns have started opening up. Some of the larger ones have oscillated from reduced restrictions to strict lockdowns. Chennai is an example. Delhi is somewhat similar. Mumbai remains under lockdown but with evident significant relaxations," said Mahesh Vyas, managing director and CEO of the Mumbai-based CMIE.
