October India Unemployment Rises to 7.8%: Report
- According to the Centre for Monitoring Indian Economy, India’s jobless rate jumped to 7.8% in October 2022 from 6.4% in September (CMIE).
- The CMIE report also shows that the unemployed rate in urban areas declined from 7.7 percent to 7.2 percent, but in rural India it rose from 5.8 percent to 8.04 percent, indicating fewer labour participation.
- Haryana had the highest unemployment rate (31.8%) in October 2022, followed by Rajasthan (30.7%) and Jammu & Kashmir (30.7%). (22.4 per cent). Madhya Pradesh, Chhattisgarh, and Odisha had the lowest unemployment rates (0.8–0.9%). (1.1 per cent).
- The monthly Naukri Jobspeak index showed that holiday hiring slowed and stayed unchanged compared to the previous year. 2022’s index is lowest (at 2,455). The research shows that it is still rising compared to last November’s festive season.