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Slowdown Blues: Govt confirms unemployment rate highest in 45 years at 6.1%

The joblessness among male on all India basis was 6.2 per cent, while it was 5.7 per cent in case of females.

twitter-logo BusinessToday.In   New Delhi     Last Updated: May 31, 2019  | 19:31 IST
Slowdown Blues: Govt confirms unemployment rate highest in 45 years at 6.1%
Unemployment rates

The government confirmed on Friday that the unemployment rate was 6.1 per cent of total labour force during 2017-18, which is the highest in 45 years.

The data was released on Friday by the statistics ministry after Modi's new cabinet took charge. It showed that 7.8 per cent of all employable urban youth were jobless, while the percentage for the rural was 5.3 per cent.

Joblessness among male on all India basis was 6.2 per cent, while it was 5.7 per cent in case of females.

The Modi government won a huge majority despite concerns over jobs and farm prices.

The government, however, declined to provide comparable numbers for the jobless rate. Chief statistician Pravin Srivastava told reporters, "It's a new design, new metric... It would be unfair to compare it with the past."

The figures were initially published by Business Standard newspaper in January that claimed that unemployment was highest since 1972-73. In its report Business Standard had said that the report was based on an assessment carried out by National Sample Survey Office between July 2017 and June 2018.

Also read: Net job creation halves to 2.25 lakh in March as against 4.37 lakh in February, shows EPFO data

The statistics ministry also added that female labour participation rate in urban areas for the quarter ending December 2018 was 19.5 per cent, while it was 73.6 per cent for males.

Separately, the Gross Domestic Product (GDP) estimates for the January-March quarter of financial year 2018-19 was recorded at 5.8 per cent, government data showed, the lowest growth rate in the past five financial years.

"GDP at Constant (2011-12) Prices in Q4 of 2018-19 is estimated at Rs 37.20 lakh crore, as against Rs 35.15 lakh crore in Q4 of 2017-18, showing a growth rate of 5.8 percent," the government said in a statement.

Also read: Slowdown Blues: India no longer the fastest growing economy as GDP tanks to 5.8% in March quarter

Also read: Job creation biggest challenge for BJP government: BNP Paribas

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