India’s unemployment rate rises to 6.98%: CMIE

India’s unemployment rate rises to 6.98%: CMIE

India has recorded a spike in its unemployment rate in both urban and rural areas in the month of October, according to the Centre for Monitoring Indian Economy (CMIE). In October, India’s unemployment rate stood at 6.98 percent. It was 6.67 percent in September 2020.

Despite the agricultural sector showing signs of robustness, the month of October saw an increase in unemployment here too.

The data shows a big jump in unemployment in the month of October as it stood at 6.90 percent, an increase of 1.04 percent since September 2020.

The unemployment rate in urban areas, however, saw a dip in October 2020. Data analytics show urban unemployment stood at 7.15 percent in October whereas it was 8.45 percent in September.

Despite the rise in the unemployment rate, the GST collections for the month of October were the highest since February with a 10.2 percent jump from October 2019.