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LATEST NEWS UPDATES | Joblessness below pre-COVID levels: Finance Ministry

Joblessness below pre-COVID levels: Finance Ministry

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published Published on Sep 17, 2022   modified Modified on Sep 18, 2022

-The Hindu

Q1 surge in private consumption not just a function of pent-up demand but also rising employment levels, it says

Demand for work under the national rural employment guarantee scheme hit a two-year low in August, signalling that the recovering economy is creating more jobs in rural as well as urban India, the Union Finance Ministry said on Saturday.   

India’s inflation, the Ministry said, is “in control” and expected to moderate in coming months from the 7% mark in August as global supply constraints ease. However, upside risks remain as producers will likely pass on higher input costs to customers “sooner than later” and the decline in Kharif sowing poses concerns on the food inflation front. 

Stressing that expansion in economic activity along with a spurt in employment opportunities has led to a fall in the unemployment rate to below pre-pandemic levels, the Ministry said that work sought by people under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) has been waning in recent months. 

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The Hindu, 17 September, 2022, https://www.thehindu.com/business/Economy/joblessness-below-pre-covid-levels-finance-ministry/article65903386.ece?homepage=true


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