Rural Unemployment Moves Up, Urban Joblessness Dips Marginally; Labour Market to See Tougher Challenges in Both Urban & Rural Pockets Over Next Few Months, Say Experts

New Delhi, July 21: India's rural unemployment rate has moved upward, it has reportedly increased to 7.1 percent in the week ended July 19 from 6.34 percent recorded in the previous week, according to data from Centre for Monitoring Indian Economy (CMIE).

According to a Livemint report, the gradual climb in the unemployment rate in the coming weeks and in July, may not see job creation. The overall national unemployment rate also moved up to 7.94 percent in the week ended July 19 from 7.44 percent the previous week. The increasing rate in unemployment continues to be an area of concern amid the rising coronavirus cases. India's COVID-19 Tally Jumps to 11.5 Lakh, Death Toll Crosses 28k Mark With 37,148 New Coronavirus Cases in Past 24 Hours.

The CMIE further highlighted that the urban joblessness rate came down marginally to 9.78 percent from 9.92 percent during the same time period.

Economists are of the opinion that the over the next couple of months, the scenario will get tougher both in the rural and the urban markets. Talking about rural India, monsoon has arrived and it is expected to pick up in several areas, thus bringing along with it natural calamities like floods, which will hinder the agriculture activities.

Talking about the urban market, reopening of businesses will continue to be slow and will limit the faster recovery that the country saw in June, amid the sporadic lockdowns that are being imposed to curb the spread of coronavirus.

(The above story first appeared on LatestLY on Jul 21, 2020 09:47 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).