Unemployment Rate Rose to 7.77% in Oct Against 6.43% in Sept: CMIE

The data of Centre for Monitoring Indian Economy (CMIE) shows that the unemployment rate of India rose up to 7.77 in October compared to the lowest in 4 year as 6.43% in September.

Among the 25 states Madhya Pradesh recorded the lowest unemployment rate of 0.9%, followed by Chhattisgarh at 0.9% Odisha at 1.1% holds 3^rd rank and Gujrat as 1.7% holds forth rank.

Whereas Bihar (14.5%), Haryana (31.8), Jammu and Kashmir (22.4%), Jharkhand (16.5%), Rajasthan (30.7), and Tripura (10.5%) registered the unemployment rate in double digit among the 25 states for which data is available with CMIE.

The results show that rural unemployment increased dramatically from 5.8% in October to 8 percent in September.

The unemployment rate in rural areas increased to 8.04 percent from 5.84 percent in September, while it decreased in urban areas to 7.21 percent from 7.7 percent in September. The increase can be linked to the Kharif crop’s harvesting season, which runs from September through the first half of October. As a result, rural employment declines in October before rebounding in November as the seeding of winter crops gets underway.