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National unemployment rate rises to 7.14% in week ended July 25, show CMIE data

National unemployment rate rises to 7.14% in week ended July 25, show CMIE data

While the national unemployment rose over the past week, things are looking much better than the previous three months during which there was rampant joblessness due to the second wave of the COVID-19 pandemic

In the week ended July 18, the unemployment rate in rural areas of the country stood at 5.1 per cent (Source: Reuters) In the week ended July 18, the unemployment rate in rural areas of the country stood at 5.1 per cent (Source: Reuters)

The rural unemployment rate in the country has spiked to 6.75 per cent in the week ended July 25, 2021, according to the latest data released by the Centre for Monitoring Indian Economy (CMIE). In the week ended July 18, the unemployment rate in rural areas of the country stood at 5.1 per cent.

In contrast, there was only a marginal increase in the urban unemployment rate of the country during the same time period i.e week ended on July 25. The urban unemployment rate jumped to 8.01 per cent in the week ended July 25. In the week before this, the urban employment rate in the country was at 7.94 per cent.

Despite only a marginal increase over the past week, the unemployment rate in urban areas still remains greater than in rural areas even as COVID-19 restrictions eased by state governments over the past few weeks.

Presently, the national unemployment rate stands at 7.14 per cent. It is up from 5.98 per cent in the week-ago period. While the national unemployment rose over the past week, things are looking much better than the previous three months during which there was rampant joblessness due to the second wave of the COVID-19 pandemic.

The monthly national unemployment rate in June was 9.17 per cent, which was still a significant decrease from 11.9 per cent in May. The national unemployment rate had shot up to a 12-month high in May due to the second wave of the COVID-19 pandemic which resulted in states imposing lockdown and restrictions across the country.

In June, the unemployment rate was 10.07 per cent in urban India and 8.75 per cent in rural India. Governments easing COVID-19 restrictions and businesses reopening had helped stabilise the unemployment rate in the country during June.

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