India’s jobless rate rises to 16-month high of 8.3 percent in Dec.

New Delhi, Jan 1 (Prensa Latina) India's jobless rate rose to 8.3% in December, the highest in 16 months, from 8% in the previous month, data from the Center for Monitoring Indian Economy (CMIE) showed on Sunday.

January 1, 2023
10:03

The urban unemployment rate rose to 10.09% in December from 8.96% in the previous month, while the rural unemployment rate slipped to 7.44% from 7.55%, the data showed.

Mr. Mahesh Vyas, managing director of the CMIE, said the rise in the unemployment rate was “not as bad as it may seem”, as it came on top of a healthy increase in the labor participation rate, which shot up to 40.48% in December, the highest in 12 months.

“Most importantly, the employment rate has increased in December to 37.1%, which again is the highest since January 2022,” he said.

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