Telangana: Significant increase in unemployment rate, highest since May 2020

Hyderabad: Telangana witnessed a significant rise in the rate of unemployment in February as compared to its figures in the previous month.

The state that recorded the lowest unemployment rate in the country at 0.7 percent in January, witnessed a sudden spike in numbers as COVID-19 restrictions were eased post the mild third wave, according to a report by the independent think-tank Centre for Monitoring Indian Economy (CMIE).

Unemployment figures have significantly increased for the first time since May 2020, which was at an all-time high in four years since 2016, at 14.7 percent.

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Telangana’s unemployment rate increased by 12.2 percent to 12.9 percent in the month of February as the country’s figures increased by 1.3 percent to 8.10 percent.

The state has recorded the sixth-highest rate of unemployment preceded by Jammu and Kashmir (32.3 percent), Bihar (14 percent), Jharkhand (15.0), Haryana (31.0), and Rajasthan (32.3 percent).

Odisha recorded the lowest unemployment rate in the country at 1.0 percent for February followed by Meghalaya (1.4), Chattisgarh (1.7) and Karnataka (2.0).

Unemployment in the rural areas of the country was recorded at 8.35 whereas the rate in the urban areas fell by 0.61 percent and was recorded at 7.55 percent, in the month of February.

In January 2022, India’s unemployment rate witnessed a sharp decline to 6.57 percent, the lowest since March 2021, with Telangana recording the lowest figures among other states at 0.7 percent.

In December 2022, the figures stood at 7.91 percent, with urban areas at 9.30 percent and rural areas at 7.28 percent, it added.

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