Unemployment Rate in India Shoots up to 8%

WHY IN NEWS? Centre for Monitoring Indian Economy (CMIE) report on unemployment in India has been released. As per the report Unemployment Rate in India is increasing. Key Findings of the Report: Increase in Unemployment rate: The Unemployment rate in India has increased to 8% in April 2021 from 6.5% in March 2021. Unemployment Rate (UER)is the percentage of the labor force who are willing to work and are actively looking for a job but are unemployed. The labour participation rate(LPR) was 40% in April 2021. It is the worst since the national lockdown was imposed in May 2020. LPRis the ratio of the....Read More