The number of people employed fell to 375.45 million in May from 390.79 million in April, according to the Centre for Monitoring Indian Economy (CMIE).
At least 15.33 million unemployed Indians in May, offsetting gains since July 2020. This situation may have a negative impact on consumer spending and economic recovery. According to data from the Economic Monitoring Center of India (CMIE), the number of employed people fell from 390.79 million in April to 375.45 million in May.
In April and May, the number of paid and unpaid jobs fell by nearly 23. Millions of people infected millions of Indians because of the second pandemic, and states were forced to shut down to stop the release of the latest data. It is relatively small and mainly confined to urban areas in India, but businesses, small traders, and people with daily gambling will bear the brunt of the economic turmoil caused by the pandemic.
Although 127 million people were employed in small businesses and daily jobs in April, this number fell to 110 million in May. As of May, at least 9 million people are engaged in agriculture, including the total number of people engaged in agriculture. In comparison, Indian cities lost 1.22 million paid jobs in May, while rural India created more than 1.4 million paid jobs. “The job market has been tight since the end of last year.
The situation improved between December and March, but the second wave caused more damage. We don’t know that unemployment is putting pressure on private demand. People who lose their jobs Will affect the recovery.If a consumer has no income, he will not spend money,” said Arup Mitra, professor of economics at the Economic Growth Institute.
In rural India, non-agricultural opportunities are reduced and labor surplus. People engaged in agriculture, whether important or not, are alone Dialogue. This also means that more people are doing the same job, which means lower productivity and lower income,” Mitra said.