India’s Unemployment Rate declined to four-month low at 7.14% in January: According to data from the Centre for Monitoring Indian Economy (CMIE), India’s unemployment rate decreased to 7.14% in January from 8.30% the previous month. This was the lowest level in four months. The urban unemployment rate declined to 8.55% in January from 10.09% in the previous month, while the rural unemployment rate slipped to 6.48% from 7.44%, the data showed.
February 2023 Current Affairs Quiz
Unemployment Rate in States:
Jammu & Kashmir had the highest unemployment rate among the states at 21.8%, followed closely by Haryana at 21.7% and Rajasthan at 21.1%. Joblessness in Delhi in January was at 16.7%, Goa at 16.2%, Assam at 16.1% and Tripura at 16%, the data added.
On the other hand, as per the data unemployment was the lowest in states such as Chhattisgarh at 0.5% followed by Odisha at 1.5%, Tamil Nadu at 1.8% and Madhya Pradesh at 1.9%.
Budget 2023-24: Focus is on Job Creation:
Agritech, education, tourism, infrastructure, healthcare, financial services, and MSME sectors were also the focus of Budget 2023, suggesting that the unemployment rate may continue to decline in the coming months. It is safe to say that employment has improved over the last few quarters, however, there still have a long way to go given each year in absolute terms we have added nearly 20 million to the workforce making the gap wider day by day.