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Unemployment rate in December 2020 was 9.06 per cent. For urban areas it was even higher at 9.15 per cent. At that time, the urban unemployment rate was 8.84. All India unemployment rate then began improving with the opening of almost all sectors of economy.By March, it fell to 6.50 per cent which is the lowest for this year, with urban unemployment at 7.27 per cent and rural unemployment at 6.15 per cent. However, it was worse than the unemployment rate of 6.1 per cent in the beginning of 2018.The situation had started worsening sharply from November 2016 itself after Modi govt’s demonetisation move which forced crores of business and industrial establishments, especially MSMEs, to close. Millions others struggled to survive due to shortage of cash, and millions more cut their production up to 75 per cent. Crores of people lost their jobs and by the beginning of 2018, unemployment in India was at a 45 year high.The unemployed have thus been hit the hardest during Modi govt’s tenure, which the outbreak of the COVID-19 pandemic made even worse. Its sudden lockdown order in March 24, 2020 put a brake on the whole economy and brought it to a grinding halt, with relief given in phases only from June 1, 2020.The country was hit by the second wave of COVID-19 in April, which led to further lockdowns and containment measures. The labour market suddenly deteriorated and the gains of the last three months were reversed. Unemployment rate rose to 7.97 per cent from 6.50 per cent just a month ago. Both the urban and rural areas were adversely affected and the unemployment rate rose to 9.78 and 7.13 per cent respectively.
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No succour for the jobless in New Year with unemployment rate shooting up and third wave knocking on door
