India’s unemployment rate continues to remain over 23 per cent in May but is marginally lower than the rate recorded in April.
The increased unemployment rate is a result of a strict lockdown that put most businesses out for two months. These businesses are now restarting in a phased manner as government has now eased restrictions significantly. (Photo: Reuters)
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.
India has reported 190,535 coronavirus cases, with 5,394 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.
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