This Article is From Sep 03, 2021

"15 Lakh Less Jobs In August vs July": Head Of Think Tank CMIE To NDTV

The latest data from the Centre for Monitoring Indian Economy (CMIE) highlighted that the national unemployment rate jumped to 8.32 per cent last month from 6.96 per cent in July.

'15 Lakh Less Jobs In August vs July': Head Of Think Tank CMIE To NDTV

Unemployment rate jumped to 8.32 per cent in August 2021

There were 15-lakh fewer job opportunities in August as compared to July 2021 in the country, Mahesh Vyas, Managing Director (MD), Centre for Monitoring Indian Economy (CMIE), told NDTV. ''This decline in job opportunities in August is mainly because of decline in jobs in the agriculture sector, added Mr Vyas. The latest data from the independent think-tank body highlighted that the national unemployment rate jumped to 8.32 per cent last month from 6.96 per cent in July. 

The comments from the industry leader come at a time when the country's economic activity registered a rebound in the first quarter of the current fiscal, with the gross domestic product (GDP) rising 20.1 per cent, however, the job market is still struggling.

Urban unemployment rose to 9.78 per cent in August from 8.3 per cent in July and 10.07 per cent in June 2021, according to CMIE data. The urban unemployment rate was 7.27 per cent in March, just before the second wave of COVID-19 pandemic hit the country. Rural unemployment also jumped to 7.64 per cent in August from 6.34 per cent in July, primarily due to low sowing during the kharif season, according to CMIE data. 

At least eight states across the country including Delhi, Haryana, and Rajasthan, are still reporting double-digit unemployment rates. At 35.7 per cent, Haryana had the highest unemployment rate in August, followed by Rajasthan at 26.7 per cent, Jharkhand at 16 per cent, Bihar and Jammu & Kashmir each at 13.6 per cent. National capital Delhi registered an unemployment rate of 11.6 per cent last month.

The Reserve Bank of India (RBI), which has maintained an accommodative stance to support the economy, projected an annual growth of 9.5 per cent in the current fiscal 2021-22 - same as estimated by the International Monetary Fund for India.