Economics
India’s Jobless Rate Jumps to 27.1%, Survey Says
- Jobless rate jumps to 27.1%, estimates from think tank show
- CMIE sees huge losses among daily wage earners, small business
Jobless labourers load trucks with emergency essentials and groceries for distribution in Bangalore, India.
Photographer: Manjunath Kiran/AFP via Getty Images
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The world’s biggest lockdown forced 122 million people out of jobs in India last month, according to estimates from a leading private sector think tank.
Employment plunged in April after the government imposed a 40-day lockdown in a nation of 1.3 billion people, forcing businesses to shut and pushing up the jobless rate to 27.1% in the week ended May 3, surveys by the Center for Monitoring Indian Economy Pvt. showed.