J&K’s Unemployment Rate at 21.8% in January as per CMIE data

09-02-223 : According to data from the Centre for Monitoring Indian Economy (CMIE), India’s jobless rate decreased to 7.14% in January from 8.30% the previous month. This was the lowest level in four months.

India’s unemployment rate fell to 7.14% in January, the lowest in four months, from 8.30% in the previous month, data from the Centre for Monitoring Indian Economy (CMIE) showed. The urban unemployment rate declined to 8.55% in January from 10.09% in the previous month, while the rural unemployment rate slipped to 6.48% from 7.44%, the data showed

Unemployment Rate

06 Feb 2023*

India      7.2%

Urban   8.3%

Rural      6.7%

Unemployment Rate in States:

Unemployment Rate (%)

States (India)     Jan 2023

Andhra Pradesh   5.5

Assam   16.1

Bihar      11.9

Chhattisgarh      0.5

Delhi      16.7

Goa        16.2

Gujarat 2.4

Haryana               21.7

Himachal Pradesh            10.0

Jammu & Kashmir           21.8

Jharkhand           13.8

Karnataka            3.4

Kerala   6.7

Madhya Pradesh              1.9

Maharashtra      5.5

Meghalaya          2.6

Odisha  1.5

Puducherry        5.3

Punjab  6.8

Rajasthan            21.1

Sikkim   2.4

Tamil Nadu         1.8

Telangana           5.3

Tripura  16.0

Uttar Pradesh    4.2

Uttarakhand      2.2

West Bengal       5.0

*Monthly time series.

Among the states, unemployment was the highest in Jammu and Kashmir at 21.8% closely followed by Haryana at 21.7% and Rajasthan at 21.1%. Joblessness in Delhi in January was at 16.7%, Goa at 16.2%, Assam at 16.1% and Tripura at 16%, the data added.

On the other hand, as per the data unemployment was the lowest in states such as Chhattisgarh at 0.5% followed by Odisha at 1.5%, Tamil Nadu at 1.8% and Madhya Pradesh at 1.9

Budget 2023 has also focused on job creation in agritech, education, tourism, infrastructure, healthcare, financial services, and healthcare and MSME sectors, indicating that the unemployment rate may continue to fall in the following months.

It is safe to conclude that employment has improved over the past few quarters, but there is still a long way to go given that we have added roughly 20 million people to the workforce on average each year, widening the gap day by day.