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Winning Bizness Desk
Mumbai. The problem of unemployment is increasing continuously in the country. The country's unemployment rate rose to 7.83% in April. Earlier in March it was at 7.60%. According to CMIE data, the urban unemployment rate in March 2022 stood at 9.22% and for rural areas it was 7.18%. According to CMIE, the unemployment rate reached 11.84% in May 2021. Although there was a decline after this and it came to 6.57% in January 2022, but in February it again reached 8.10% which is now at 7.83%.
Unemployment rate reflects the health of the economy
According to CMIE, the unemployment rate accurately reflects the health of any country's economy, because it tells how many unemployed people are in the total population of the country. The think tank expects the start of sowing of the Rabi crop to see a spurt. This means that the agri sector will once again perform well in the current financial year. Due to this the migrant laborers will return to the fields.
Lowest unemployment in Himachal Pradesh and highest in Haryana
According to the report, the highest unemployment has been recorded in Haryana and Rajasthan. It is 34.5% in Haryana and 28.8% in Rajasthan. Whereas Himachal Pradesh, Chhattisgarh and Assam witnessed the lowest unemployment rate which stood at 0.2%, 0.6% and 1.2% respectively.
How is the unemployment rate determined?
The unemployment rate at 7.83% in April means that 78 out of every 1000 workers willing to work could not find work. CMIE conducts a door-to-door survey of people above 15 years of age every month and inquires about their employment status. After that a report is prepared from the results obtained.