There has been a decline in the unemployment rate in India. The jobless rate has fallen to 7.09% in the month of September, which was 8.10% in the month of August. The unemployment rate fell to a one-year low in September as joblessness in rural areas fell despite weak monsoon rains. Center for Monitoring Indian Economy (CMIE) has released these figures of unemployment rate.
According to CMIE data, the urban unemployment rate has fallen to 8.94% in September from 10.09% in August last month. Whereas, the rural unemployment rate has fallen from 7.11% to 6.20%. Economists and policymakers keep a close eye on the Mumbai-based CMIE data, because the government does not release its monthly data.
The unemployment rate of 7.09% in September means that out of every 1000 workers willing to work, 70 could not get work. Every month, CMIE conducts a door-to-door survey of people above 15 years of age and takes information from them about their employment status. After this, a report is prepared from the results obtained.
This monsoon has recorded the least rainfall in India in the last 5 years. At the same time, during June-September this year, there has been 6% less rainfall than the long-term average. However, despite this it has not had any significant impact on agricultural activities.
A decline in urban unemployment has also been seen before the festive season in India. Employers usually recruit more during this period. Last month, Prime Minister Narendra Modi had given appointment letters to 51,000 people under the Special Job Initiative.