UNEMPLOYMENT REPORT
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Context
- India’s unemployment rate rose to 8.30% in December, the highest in 16 months, from 8.00% in the previous month, data from the Centre for Monitoring Indian Economy showed on January 1.
Findings of the Report
- The urban unemployment rate rose to 10.09% in December from 8.96% in the previous month, while the rural unemployment rate slipped to 7.44% from 7.55%, the data showed.
- In December, the unemployment rate rose to 37.4% in Haryana, followed by 28.5% in Rajasthan and 20.8% in Delhi.
Closing Thoughts
- Containing high inflation and creating jobs for millions of young people entering the job market remain the biggest challenge.
- India needs to move from a single focus on GDP growth to growth with employment, skilling of youth and creating production capacities with export prospects.
Must Read: https://www.iasgyan.in/daily-current-affairs/unemployment-in-india-9