India’s June Employment Lowest in Last One Year, Says CMIE
- Employment shrank by 13 mln, including 10 mln staying out
- Shrinkage entirely in rural areas, should improve with monsoon
Commuters in Mumbai.
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India’s labor market showed fresh signs of weakness in June, with the employment rate falling to its lowest in two years, as patchy monsoon rains may have delayed deployment of agricultural workers in rural areas, the head of a private research firm said.
Writing in the Business Standard newspaper on Tuesday, Mahesh Vyas, who is chief executive officer at the Centre for Monitoring Indian Economy Pvt, said the employment rate fell to 35.8% in June, from 37.07% in May. The jobless rate climbed to 7.8% of the total workforce in June, from 7.1% in May.