Unemployment rate decreasing in India: CMIE

Haryana recorded the highest unemployment rate in March, followed by Rajasthan, Jammu and Kashmir, and Bihar

Photo used for representational purpose only. CMIE data revealed that the overall unemployment rate in India was 8.10% in February 2022, which fell to 7.6% in March. File | Photo Credit: Velankanni Raj B.

Unemployment rate in the country is decreasing with the economy slowly returning to normal, according to CMIE data.

The Centre for Monitoring Indian Economy's monthly time series data revealed that the overall unemployment rate in India was 8.10% in February 2022, which fell to 7.6% in March.

On April 2, the ratio further dropped to 7.5%, with urban unemployment rate at 8.5% and rural at 7.1%.

Retired professor of economics at Indian Statistical Institute Abhirup Sarkar said that though the overall unemployment rate is falling, it is still high for a "poor" country like India.

The decrease in the ratio shows that the economy is getting back on track after being hit by COVID-19 for two years, he said.

"But still, this unemployment rate is high for India which is a poor country. Poor people, particularly in rural areas, cannot afford to remain unemployed, for which they are taking up any job which comes in their way," Mr. Sarkar said.

According to the data, Haryana recorded the highest unemployment rate in March at 26.7%, followed by Rajasthan and Jammu and Kashmir at 25% each, Bihar at 14.4%, Tripura at 14.1% and West Bengal at 5.6%.

In April 2021, the overall unemployment rate was 7.97% and shot up to 11.84% in May last year.

Karnataka and Gujarat registered the least unemployment rate at 1.8.% each in March, 2022.