Jobs

India Unemployment Rate Surges to 16-Month High, CMIE Data Shows

Unemployment rate rose to 8.3% in December from 8% in November
Borrowing costs has climbed by 225 basis points in last year

Passengers in line at the Secunderabad railway station in Hyderabad, India, on Wednesday, March 23, 2022. India’s urban consumption is driving recovery from late pandemic wave but has further intensified the divergence between cities and the hinterland, according to a report by Citigroup Inc released last week. — Passengers in line at the Secunderabad railway station in Hyderabad, India, on Wednesday, March 23, 2022. India’s urban consumption is driving recovery from late pandemic wave but has further intensified the divergence between cities and the hinterland, according to a report by Citigroup Inc released last week.Photographer: Dhiraj Singh/Bloomberg

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January 2, 2023 at 5:18 AM UTC

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India’s unemployment rate rose to a 16-month high in December as job creation in the slowing economy failed to keep pace with the growing workforce.