At 8.5%, Unemployment Rate Highest in Over 3 Years, CMIE Reports

This number has also increased from 7.2 percent, which was the rate of unemployment in September 2019.

Published01 Nov 2019, 06:43 AM IST
Business
1 min read

A day after core sector growth came at the lowest in a decade, yet another fresh report cuts a sorry figure of the state of India's economy, which is in the midst of a slowdown.

A report released by the Centre for Monitoring Indian Economy (CMIE) on Friday, 1 November said that India's unemployment rate in October rose to 8.5 percent, according to Reuters, which is the highest since August 2016.

This number has also increased from 7.2 percent, which was the rate of unemployment in September 2019.

Official data released on Thursday showed that output of core infrastructure industries shrank by 5.2 percent in September 2019 as seven of eight sectors witnessed negative growth.

(With inputs from Reuters.)

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