(PTI) New Delhi: The unemployment rate in India has declined to a four-month low at 7.14% in January, the Centre for Monitoring Indian Economy (CMIE) data has revealed. According to the data, the unemployment rate during December 2022 was 8.30%, while in November, it was at 8% and 6.43% in September.
The data further showed that urban unemployment in January stood at 8.55%, while rural joblessness stood at 6.48%.
Among the states, unemployment was the highest in Jammu and Kashmir at 21.8% closely followed 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%.
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“It is safe to say that employment has improved over the last few quarters, however, we 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,” Rituparna Chakraborty, co-founder and executive vice president, TeamLease Services, said.
The unemployment rate has been wobbling in the last few months due to various economic and geopolitical factors, Aditya Narayan Mishra, CEO, managing director, CIEL HR Services, noted.
“IT, technology and startups have suffered in the last six months, however, we anticipate more jobs to be created over the months of 2023, which will reduce the rate further.
“Budget 2023 has also focused on job creation in agritech, education, tourism, infrastructure, healthcare, financial services, healthcare and MSME sectors, indicating that the unemployment rate may continue to fall in the following months,” he said.
Skilling initiatives will equip people to have the right skills that are required to fulfil the job requirements of various sectors, Mishra added.
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