Unemployment rate soars to 8.5%, highest in over 3 years

Amid the ongoing slowdown in the economy, the joblessness rate in October rose to the highest since August 2016, the Centre for Monitoring Indian Economy (CMIE)on Friday showed. The unemployment rate is up from 7.2 per cent in September this year, the data also showed. While the urban unemployment rate was recorded at 8.9 per cent, rural rate came at 8.3 per cent, the CMIE data also showed. It comes as the output of eight core industries contracts 5.2 per cent in September from the years. Seven of eight sectors witnessed negative growth, according to official data released on Thursday.

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10 thoughts on “Unemployment rate soars to 8.5%, highest in over 3 years

  1. Hyper nationalism and Religious Polarisation can’t bring economic growth.
    It needs a vision to bring structural reforms through predictable policies which unfortunately has been lacking.
    Unemployed youths join lynch mobs and cow vigilantes spreading fear and hatred in the minds of minorities.

    Good job highlighting this.

    Liked by 1 person

      1. Crony capitalism was always there.
        And was very visible in the last days if UPA.
        We need strong institutions to fight it.
        We have them.
        Today, apart from the already present crony capitalism, we have all the above.
        And our institutions are being emaciated as well.

        Hope things change.

        Liked by 1 person

    1. It’s a bad time for Indian youth. We are not utilising their energy at the fullest. you must be knowing, india is a young country-
      India has more than 50% of its population below the age of 25 and more than 65% below the age of 35. It is expected that, in 2020, the average age of an Indian will be 29 years.

      Like

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