Covid-19 has encountered the entire world, moreover, it’s second wave is spreading more dangerously in India. Ever since we encountered with the first Corona case in India, series of lockdown and curfew happened. These events lead to a dangerously decreasing employment opportunities for any of the rural or urban population.
Employment has always been a great deal for any country which is in developing phase, India being one has to think a lot about employment. It was a very hard step to take, as it was for the health of the entire country. Due to this crisis, already employed worker also faced the cruel reality of Unemployment. They suffered a situation of joblessness, which was a real bizarre!
Covid-induced lockdowns and restrictions on mobility have pushed India’s unemployment rate to a four-month high of 7.97% in April compared with 6.5% in March, 6.89% in February and 6.52% in January this year, data compiled by Centre for Monitoring Indian Economy (CMIE) showed.
The spike in unemployment was seen in both Urban and Rural areas, while unemployment rate in Urban areas was observed to be 9.78% (the highest in eight months) and for Rural areas it was 7.13%. CMIE’s MD and CEO Mahesh Vyas attributed the rise in the unemployment rate to the lack of growth in jobs. He also said that the lack of growth in jobs has led to a double whammy of falling labour participation rate (LPR) and rising unemployment rate in April 2021.
In March 2021, the LPR was 40.2%, down from the range of 40.5-40.6% witnessed during December, January and February.