New Delhi : Unemployment rate increased again. Not only has it increased, it has reached its highest point in the last eight months. Such alarming information has come to light in the survey report of the Center for Monitoring Indian Economy (CMIE). They claim that the unemployment rate in the country has increased to 9.2 percent in the last month of June. In the previous month (May) it was 7 percent. That is, the unemployment rate has increased by about two and a half percent within a month. It even surpassed the figure for June 2023 (8.5 percent). As a result, questions have arisen about the financial condition of the country. The promise of 2 crore jobs per year by Modi Government has not been fulfilled even in 10 years. With this weapon, the BJP’s dream of an absolute victory in the Lok Sabha polls concluded a month ago has been shattered by the opposition. Narendra Modi returned to the government for the third time on the shoulders of partners. But even after that shock, there was no change in the country’s employment picture.
The situation in rural areas is worse than in cities. This is evident in CMIE’s Consumer Pyramids Household Survey. According to the report, the unemployment rate in rural areas was 6.3 percent last May. It jumped to 9.3 percent in June. It was 8.8 percent in this month last year. The male unemployment rate in rural areas was 5.4 percent in May. It rose to 8.2 percent in June. But for women, it has increased by five percent in one fell swoop. It was 12 percent in May. That rose to 17.1 percent in June. Inflation is rocketing in rural areas overtaking cities, government data says. Recently, the Reserve Bank’s policymaking committee meeting has expressed concern over the issue. Rising food prices are adding to the worry. Meanwhile, the lack of earning opportunities is increasing the panic in the lower and middle class. The unemployment rate in urban areas has not increased much. Last May, this rate was 8.6 percent in the city. In June it was 8.9 percent. The unemployment rate of women has increased significantly in cities as well as in villages. In May it was 18.53. It has increased to 21.36 percent in June. The national unemployment rate for women was 18.5 percent in June. It is much higher than the national average.
Lack of income coupled with rising inflation has made life miserable for common people. People are struggling to pull the yoke of everyday life. According to government data, household savings have fallen at a record rate. The debt burden has increased by leaps and bounds. One of the main issues for the common people in the recently concluded Lok Sabha elections was employment and price rise. A recent National Statistical Office (NSO) survey also showed a bleak picture of employment in the unorganized sector. It has not even reached the pre-Covid levels.
