India Jobless Rate Rises to One-Year High in August, CMIE Says
An employee arranges shelves at a supermarket in Mumbai.
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India’s unemployment rose to a one-year high in August, as the economy’s world-beating growth failed to translate into increased employment opportunities, according to a private research firm.
Jobless rate increased to 8.28% last month, data from the Centre for Monitoring Indian Economy Pvt. showed Thursday. That’s the highest since August 2021 and compares with a 6.8% reading in July. The sharp jump was because of rural unemployment rising to 7.68% from 6.14% during the same period, and in urban areas to 9.57% from 8.2%.