Unemployment Rate in India Rises to 7.78%: CMIE

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The Centre for Monitoring Indian Economy (CMIE) on Monday said that the unemployment rate of India rose to 7.78% in February, the highest since October 2019, and up from 7.16% in January. The CMIE released the data today reflecting the impact of a slowdown in the economy.

India’s economy expanded at its slowest pace in more than six years in the last three months of 2019, with analysts predicting further deceleration as the global coronavirus outbreak stifles growth in Asia’s third-largest economy.

The data released by CMIE stated that the unemployment rate increase to 7.37% in February from 5.97% in the previous month in rural areas, while in the urban areas, the rate fell to 8.65% from 9.70%.

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