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LATEST NEWS UPDATES | Real estate, IT, gig jobs, MNREGA: Making sense of India’s roller-coaster unemployment crisis -Radhika Pandey

Real estate, IT, gig jobs, MNREGA: Making sense of India’s roller-coaster unemployment crisis -Radhika Pandey

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published Published on Oct 7, 2022   modified Modified on Oct 8, 2022

-ThePrint.in

Employment in India rose from 394.6 million in August to 404.2 million in September, and while the numbers are still below pre-Covid levels, the increase is encouraging.

India’s unemployment rate dropped sharply to 6.4 per cent in September from 8.3 per cent in August. This was the lowest unemployment rate in the past four years. The fall in unemployment was seen across both rural and urban regions.

Alongside the decline in the unemployment rate, the labour force participation rate (LPR) inched up from 39.24 per cent in August to 39.32 per cent in September. An increasing LPR implies that more people are actively looking for jobs. Fall in unemployment rate amid an expansion of the labour force implies an increase in employment. While the increase in employment is encouraging, it is still below the pre-Covid levels.

Employment in the non-farm sector is witnessing a churn. While the hotel and tourism sector and the manufacturing sector saw muted employment generation, sectors such as real estate and construction, education, IT, and delivery and retail segments are seen to be emerging as major employment generating sectors. The pandemic has also facilitated the shift towards a gig economy.

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ThePrint.in, 7 October, 2022, https://theprint.in/macrosutra/real-estate-it-gig-jobs-mnrega-making-sense-of-indias-roller-coaster-unemployment-crisis/1156899/


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