2.1 crore jobs added in May, unemployment rate at 23.48%: Report

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Jun 2, 2020

(Representative image)

NEW DELHI: India’s unemployment rate in May rose to 23.48%, marginally lower from 23.52% in April, according to data released by the Centre for Monitoring Indian Economy (CMIE) on Monday, reflecting the impact of coronavirus pandemic.
The business, economic database and research company also mentioned that around 2.1 crore jobs were added in May.
India has reported 1,98,706 coronavirus cases, with 5,598 deaths.
India’s infrastructure output, contributing nearly 40% in industrial production, contracted 38.1% in April from a year earlier, the worst performance in years, government data showed on Friday.
The economic growth also tumbled to 3.1 per cent in the March quarter — the slowest pace since the global financial crisis more than a decade back — but the worst is yet to come as the full impact of the world’s most expansive lockdown that brought the nation to a near standstill will get fully accounted for only in the next quarter.
(With agency inputs)


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