Good news! Revival in rural jobs push India's employment rate up in July
After witnessing a steep fall in employment rate in June 2022, economic think-tank Centre has estimated that the trend has been reversing in the current month.

After witnessing a steep fall in employment rate in June 2022, economic think-tank Centre for Monitoring Indian Economy (CMIE) has estimated that the trend has been reversing in the current month.
In the last three days of the month since July 12, the unemployment rate has been decreasing gradually at 7.29 per cent on July 14, 7.46 per cent on July 13 and 7.33 per cent on July 12.
In June 2022, the all-India unemployment rate was 7.80 per cent, urban at 7.30 per cent and rural at 8.03 per cent.
Reacting to this, economist Abhirup Sarkar said this may be due to seasonal variations or errors in sample collection by the agency.
According to the data, the all-India unemployment rate in June was 7.80 per cent, urban at 7.30 per cent and rural at 8.03 per cent. In the previous month, the all-India unemployment level was 7.12 per cent.
CMIE said India's June 2022 labour statistics had been highly disappointing. Employment fell by 13 million from 404 million in May 2022 to 390 million in June 2022.
The agency said this shows that labour markets had shrunk in June, with three million being added to the labour force. In the last month, the labour force shrunk by 10 million.
CMIE said the mass exit of labour shows that the labour participation rate (LPR) had shrunk to the lowest level at 38.8 per cent, which was 40 per cent in the preceding two months.
According to the agency, the fall in LPR was more pronounced in rural areas. The revival in rural employment is expected to be in the agriculture labourers with monsoon picking up in the coming weeks.
CMIE also pointed out that June 2022 also saw a fall of around 2.5 million jobs among the salaried class. According to the think-tank, the vulnerability of the salaried jobs has been exposed this way. The only saviour is that the economy has to grow at a faster pace to generate employment, it said.
State-wise unemployment data shows in West Bengal was 5.2 per cent, with Haryana at the top at 30.6 per cent.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES

LIC Saral Pension Plan: How to get Rs 64,000 annual pension on Rs 10 lakh one-time investment in this annuity scheme that everyone is talking about

Gratuity Calculation: What will be your gratuity on Rs 45,000 last-drawn basic salary for 6 years & 9 months of service?

Rs 1,500 Monthly SIP for 20 Years vs Rs 15,000 Monthly SIP for 5 Years: Know which one can give you higher returns in long term

Income Tax Calculations: What will be your tax liability if your salary is Rs 8.25 lakh, Rs 14.50 lakh, Rs 20.75 lakh, or Rs 26.10 lakh? See calculations

8th Pay Commission Pension Calculations: Can basic pension be more than Rs 2.75 lakh in new Pay Commission? See how it may be possible

SBI Revamped Gold Deposit Scheme: Do you keep your gold in bank locker? You can also earn interest on it through this SBI scheme

Monthly Pension Calculations: Is your basic pension Rs 26,000, Rs 38,000, or Rs 47,000? Know what can be your total pension as per latest DR rates
04:16 PM IST