new Delhi. After the Russia-Ukraine crisis, after the record rise in crude oil prices and inflation, unemployment is now giving a blow to the shock. Alam is that the unemployment rate rose to a 6-month high in February. Rising inflation and lack of work in rural areas has led to an increase in the unemployment rate.
In the report of the Center for Monitoring Indian Economy (CMIE Report), it has been said that the unemployment rate in the country increased to 8.1 percent in February. This is the six-month high level of unemployment. Earlier, in January 2022, the unemployment rate was 6.57 percent, which is the lowest in 10 months.
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Unemployment rises in rural areas
Rural areas have not got relief in terms of rising unemployment rate. Last month, unemployment in villages was at a record high of eight months. In February 2022, unemployment in villages rose by 2.51 percent to 8.35 percent. CMIE says that there are many reasons for the increase in inflation in the villages. These include inflation.
Relief in cities
In contrast, the unemployment rate in cities declined from 8.16 per cent to 7.55 per cent, a four-month low. The main reason for this is the better situation on the jobs front in the cities. Apart from this, the easing of restrictions related to the epidemic and rapid improvement in the formal and informal sector has also reduced unemployment in the cities.
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Effect of cut in MNREGA budget
Experts say that due to the reduction in the MNREGA budget of some states and the limited availability of new employment in the non-agricultural sector in the villages, there was a jump in the unemployment rate in the villages. It reached an eight-month high in February. There is a need to bring down the unemployment rate in rural areas. For this, the government will have to play an immediate active role and intervene.
Tags: Unemployment, Unemployment in India
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