Question
According to the CMIE (Centre for Monitoring Indian
Economy) data, the unemployment rate in India fell to _______ in May due to a decline in the labor participation at 441.9 million.Solution
According to the CMIE (Centre for Monitoring Indian Economy) data, the unemployment rate in India fell to 7.7 per cent in May due to a decline in the labour participation at 441.9 million. Unemployment rate in India among people aged 15 years and above fell to 7.7 per cent in May 2023, from 8.5 per cent in the previous month. Compared to April, labour participation rate (LPR) fell by 1.1 percentage point to 39.6 per cent in May The 4.5 million fewer people in the urban labour force in May was the result of a combination of a decline in jobs by around 2.4 million and a fall in the number of unemployed in urban India by 2.1 million. The rural labour force reduced to 299.4 million in May from 306.5 million in the previous month.
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