Unemployment data has been shared by private economy think tank CMIE. According to this, the unemployment rate in India has fallen by 7.7 percent during May. A decline of 441.9 million has been recorded in labor participation. CMIE’s Natasha Somaiya said the unemployment rate among people aged 15 years and above was 8.5 per cent last month.
The change in figures is being seen only because of the decline in labor participation. Regarding the decrease in labor participation, it can be said that the entry of working people has decreased in the labor market. He said that the Label Participation (LPR) decreased by 1.1 percent to 39.6 percent during May as compared to April.
how much the size of employment decreased
According to the report, this decline in LPR in May was expected, as a large number of people got employment in April, but only a small proportion could get employment in the month of May. In such a situation, the size of employment decreased from 453.5 million to 441.9 million during May.
The biggest decline in rural
The decline in labor participation in May 2023 was much higher in rural than urban. She said that in urban India, the employment force has shrunk to close to 4.5 million. There were about 147 million people in the urban labor force in April, which declined to 142.5 million in May.
how many people were unemployed in may
According to CMIE (Centre for Monitoring Indian Economy) data, there has been a decline in the number of employed as well as unemployed people in the urban labor market. The urban labor force declined by 4.5 million in May, jobs fell by about 2.4 million and the number of unemployed in urban India declined by 2.1 million. In such a situation, there were a total of 129.5 million people in the urban workforce and about 13 million unemployed people.
Similar decline in rural areas as well
The rural load has also registered a similar decline. Here also a decline has been recorded in both employment and unemployment numbers. The rural workforce declined to 299.4 million in May from 306.5 million in the previous month. In April, rural India created an impressive job compared to urban India. Although there has been a decrease in jobs in May.
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