News: Another 7 million people jobless due to India’s virus surge

Employee Relations

Another 7 million people jobless due to India’s virus surge

According to the data from Centre for Monitoring Indian Economy Pvt.,unemployment increased to 7.97% from 6.5% in March, with more than seven million jobs lost last month.
Another 7 million people jobless due to India’s virus surge

The Indian government’s decision to set up strict lockdown measures has culminated in the loss of jobs for another 7 million people and the outlook remains weak with state administrations extending lockdowns to curb a record surge in virus cases.

India’s unemployment rate rose to a four-month high of nearly 8% in April and local administrations have been forced to extend curbs as the nation’s creaky health infrastructure can’t cope with the flood of virus cases, jeopardizing a nascent economic recovery.

According to the data from the Centre for Monitoring Indian Economy Pvt.,unemployment increased to 7.97% from 6.5% in March, with more than seven million jobs lost last month. 

CMIE Managing Director Mahesh Vyas said,“There is a fall in the jobs available. This could be due to the lockdowns. Since the virus is still quite intense and we are stressed on the medical health-services front, it’s likely that the situation will remain tense in May as well.”

The weak employment outlook is a risk for India’s chances of reaching double-digit economic growth this year. With the pandemic surging in full force in May too, the central government has to make humongous efforts to generate sufficient jobs.

Read full story

Topics: Employee Relations, #Jobs, #Layoffs

Did you find this story helpful?

Author

QUICK POLL

What is your top focus area for reinventing work in the hybrid world of work?

2 months free subscription
q_auto,f_auto/v1620365420/mag-may-2021.png

Subscribe to all new People Matters HR Magazine

.

Subscribe
And Save 59% plus Two months free

Subscribe now

Are your workers truly satisfied? What's your Employee Experience Equation?

READ May 2021 issue of our magazine to find out the EX mantras of global leaders.