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Rising unemployment adds to the Covid pain
Surabhi
Mumbai |
Updated on
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Unemployment rates are slowly moving back to the record highs of June 2020 when there was a national lockdown
A fledgling recovery in the country’s labour market has been derailed, with surging Covid cases and localised lockdowns bringing economic activity to a halt.
This time around, job losses and unemployment are being reported not only from urban centres but also from rural India, which has been affected more by the second wave than the first.
Unemployment
Data from the Centre for Monitoring Indian Economy (CMIE) show that unemployment rates in the country are slowly moving back to the record highs of June 2020 when there was a national lockdown.
For big staffing firms such as Quess Corp or TeamLease Services, this would be a huge hit if they go for a national licence. Quess Corp has over 300,000 employees while TeamLease has over 200,000 employees under its fold.
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