New Delhi: The unemployment rate in India touched 7.71 percent on August 14, 2022. The main reason behind its rise is urban joblessness.
As per the data by the Centre for Monitoring Indian Economy (CMIE), urban unemployment breached 9 percent on August 14 and reached 9.12 percent.
In the month of July, the unemployment rate has fallen down to 6.80 percent from 7.80 percent in June. The reason behind the fall was a dip in the rural unemployment rate due to the good monsoon and festive season.
The rural unemployment rate has fallen down from 8.03 percent in June to 6.14 percent in July.
However, in the month of August, the rural unemployment rate increased to 7.05 percent whereas, the urban unemployment rate climbed to 9.12 percent.
The rise in both rural and urban joblessness led to increase in the unemployment rate in India.
According to experts, the lack of manufacturing and factory jobs is one of the major causes of rise in the unemployment rate in India.
As India’s growth is powered by high-end services like software and finance that employ high-skilled workers.
