India's current unemployment rate stands at 7.5 per cent as per Centre for Monitoring Indian Economy (CMIE). However, the unemployment rate for graduates stands at 18.5 per cent - more than twice the headline rate, according to data for the end of 2019 compiled by CMIE.
The latest findings from the survey conducted by Centre For Monitoring Indian Economy for the period between September and December 2019 has been done after interacting with 1.74 lakh households.
The report depicts a substantial increase in unemployment rate in urban India, which stands at 9 percent compared to unemployment rate in rural India at 6.8 per cent.
The overall unemployment rate for females is at 17.5 per cent versus 6.2 per cent for males. In a more drastic increase, the unemployment rate is as high as 26 per cent for urban females.
Mahesh Vyas, CEO, Centre for Monitoring Indian Economy told NDTV, "India's headline unemployment rate is at 7.5 per cent but, this understates the real problem on hand which is of lack of sufficient jobs for young graduates."
"Nearly one in every four graduates in the mid- to late-twenties who is looking for a job is unable to find a job."
NSO's leaked report last year for financial year 2018-19 suggested unemployment was at its highest in 45 years.