InvestorQ : Is it true that joblessness has touched record levels in April 2021?
diksha shah made post

Is it true that joblessness has touched record levels in April 2021?

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Arya Nanda answered.
3 days ago
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The rise in unemployment in April is based on the data put out by CMIE, which is a private research organization. In fact, CMIE projected that the lockdown in April 2021 could have perished close to 75 lakh jobs in India and would have taken the joblessness levels to a 4-month high of 7.97%. This is yet to be confirmed by the government or the EPFO.

The chairman of CMIE, Mahesh Vyas, expects the trend to get amplified. The Urban unemployment was much higher at 9.78% while rural unemployment was at 7.13% in the month of Apr-21. Despite lockdowns and restrictions, the scenario is not as bad last year when joblessness had touched an unprecedented level of 24%.

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