A debilitating economy and severe economic distress, like the Great Depression, have often triggered unemployment insurance policies in several countries.
India Business News: Over 10 million Indians have lost their jobs because of the second wave of Covid-19, and around 97 per cent of households' incomes have declined since
“We still have a week to go before the month closes. May 2021 will end with a double-digit unemployment rate, falling employment rate and substantial loss of employment,” CMIE said in its weekly analysis.
The estimated fall in employment may ease or worsen in the last week of May, but the losses will remain. India will close May with double-digit unemployment rate and substantial job loss
Unemployment rate shoots up to 8% in April; 7.35 million lose jobs: CMIE
While fall in labour force participation could be attributed to partial lockdowns, fall in employment cannot be attributed to lockdowns. Most job losses are from agricultural sector, which is not impacted by lockdowns. April is a lean month for employment in farms
BusinessToday.In | May 12, 2021 | Updated 14:22 IST
Salaried employees saw a loss of 3.4 million jobs in April
April turned out to be worse than expected when it came to jobs as states resorted to strict lockdowns. The unemployment rate shot up from 6.5 per cent in March to 8 per cent in April, while the employment rate fell from 37.6 per cent in March to 36.8 per cent in April, data by private think tank CMIE said.