Unemployment rate was at four-year high during the time of demonetisation in 2016-17, a Labour Bureau report, accessed by Business Standard has revealed.According to the Bureau’s Sixth Annual Employment Survey, the employment rate stood at 3.9 percent in 2016-17, compared to 3.7 percent in 2015-16 and 3.4 percent in 2013-14. The unemployment rate refers to the proportion of labour force available for work but unable to get a job.The report also added that the Labour Force Participation Rate (LFPR), which refers to the working age population working or seeking jobs, went up to 76.8 percent from 2016-17 from 75.5 percent from 2015-16.According to The Economic Times, US-based National Bureau of Economic Research in December 2018 said that demonetisation hit India’s economic activity in the period following the 8 November, 2016, (the day demonetisation was announced), but the impact had dissipated by the summer of 2017.“Our results imply demonetisation lowered the growth rate of economic activity by at least 2 percentage points in the quarter of demonetisation," said the working paper entitled Cash and the Economy: Evidence from India’s Demonetisation, as quoted by ET.The paper also said that India’s economic activity declined 3 percentage points or more in November and December 2016 even though its effects were dispelled over the next few months.(With inputs from Business Standard and The Economic Times) We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated. The Quint is now available on Telegram & WhatsApp too, Click here to join.