Indian Unemployment Rate 2023

Unemployment rate in India inched higher to 7.45% in February 2023 from 7.14% in January 2023, taking the total number of unemployed in the country to 33 million compared to 31.5 million in January. This is on the back of a significant increase in rural unemployment after it was on a decline in the preceding four months, the Centre for Monitoring Indian Economy said. told journalists yesterday that India needed to shift its emphasis from growth with employment to growth with youth skill development, the advancement of manufacturing capabilities with export prospects, and growth with all three. The increase in India unemployment rate was “not as awful as it may seem,” according to Mahesh Vyas, managing director of the CMIE, as it came on top of a solid jump in the labor participation rate, which soared to 40.48 percent in December, the highest level in a year. Controlling high inflation and creating jobs for millions of young people entering the workforce before the next round of national elections in 2024 continue to be the government of Prime Minister Narendra Modi’s main challenges.From the southern city of Kanyakumari to Srinagar, in the Jammu and Kashmir region, the main opposition Congress party began a five-month cross-country march in September to mobilize public opinion on issues like high prices, india unemployment rate, and what it claims are the divisive politics of Modi’s Bharatiya Janata party.

Unemployment Rate in India Year Wise

* In 2018, India’s unemployment rate dropped by 0.03% from the previous year to 5.33%.
* The unemployment rate in India for 2019 was 5.27%, down 0.06% from 2018.
* The unemployment rate in India for 2020 was 8.00%, up 2.73% from the previous year.
* The unemployment rate in India in 2021 was 5.98%, down 2.02% from the previous year.
* India’s unemployment rate in India year wise ranged from an all-time high of 23.50 percent in April 2020 to a record low of 6.40 percent in September 2022, with an average of 8.22 percent between those years. Below we have provided the unemployment rate in India year wise.