15 Lakh People Lose Jobs in August, Unemployment Rate at 8.32%

Data released by Centre for Monitoring Indian Economy (CMIE) indicated that the national unemployment rate climbed to 8.32% in August, with over 15 lakh people, working in both formal and informal sectors, experiencing job losses.

(Photo: Rhythum Seth/ The Quint)

Data released by the Centre for Monitoring Indian Economy (CMIE) indicates that the national unemployment rate has climbed to 8.32% in August, with over 15 lakh people, working in both formal and informal sectors, experiencing job losses.

In contrast, the unemployment rate in July was recorded at 6.95%.

The think tank also underlined that around 39.7 crore individuals were employed in August, as opposed to approximately 39.9 crore in July. Out of these, nearly 13 lakh job losses were from rural India.

Amid the kharif season, rural unemployment saw an increase of 1.3 percentage points, as it climbed from 6.34% in July to 7.64% in August.

Speaking to NDTV, CMIE Managing Director Mahesh Vyas said, "This decline in job opportunities in August is mainly because of decline in job opportunities in the agriculture sector."

Meanwhile, urban unemployment rose from 8.3% in July to 9.78% in August.

The ascent in the unemployment rate in the months of April, May and June coincided with the second wave of COVID-19. In March, the urban unemployment rate was recorded to be 7.27%.

The escalation in unemployment also comes after the month of July recorded 15 lakh joining the labour force, mostly in low-productivity agricultural work during the peak of the monsoon-led sowing season.

Speaking on the rise of unemployment in the country, Congress leader Rahul Gandhi censured the Narendra Modi-led government.

He tweeted in Hindi on Friday, 3 September, “The Modi government is harmful for employment. It does not promote or support any business or employment outside of his circle and is trying to snatch jobs from those who have them.”

(With inputs from NDTV.)