According to the Center for Monitoring Indian Economy (CMIE), the unemployment rate increased from 6.43% in September 2022 to what percentage in October 2022?

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7.24%

7.45%

7.77%

7.92%

Correct Answer : 7.77%

The unemployment rate in India rose to 7.77 percent in October 2022 compared to a four-year low of 6.43 percent in September 2022, data from Centre for Monitoring Indian Economy (CMIE).

Among the 25 states for which data is available with the CMIE, six states - Bihar (14.5 percent), Haryana (31.8 percent), Jammu and Kashmir (22.4 percent), Jharkhand (16.5 percent), Rajasthan (30.7 percent), and Tripura (10.5 percent) - registered the unemployment rate in double digits.

Madhya Pradesh recordrd the lowest unemployment rate at 0.9 percent, followed by Chhattisgrah at 0.9 percent, Odisha at 1.1 percent, and Gujrat at 1.7 percent.

According to the data, rural unemployment has seen a steep surge from 5.8 percent in October 2022 to 8 percent in September 2022.

The rural unemployment rate surged to 8.04 percent from 5.84 percent in September, while the urban jobless rate moderated to 7.21 percent compared with 7.7 percent in the previous month. The spike can be attributed to the harvesting period of the Kharif crop which is between September and the first half of October 2022. This results in a dip in October in rural employment, before it picks up in November when sowing for winter crops begins..

Source : Money Control

Published On : November 4, 2022

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