The second wave of COVID-19 and the resultant localised lockdowns have impacted over 75 lakh jobs, taking the unemployment rate to a four-month high of 8 per cent, the Centre for Monitoring Indian Economy (CMIE) said on 3 May 2021. The situation on the employment front is expected to continue to remain challenging going forward as well, CMIE's managing director and chief executive Mahesh Vyas said.

What

  1. The national unemployment rate touched 7.97 per cent as per the centre's proprietary data, with urban areas witnessing higher stress at 9.78 per cent and rural joblessness at 7.13 per cent.
  2. The national unemployment rate had stood at 6.50 per cent in March, and the number on both rural and urban front was lower.
  3. The second wave of the COVID-19 pandemic has led to a slew of pockets going under lockdown-like situations with only essential activities being allowed, which result in a chill in a bulk of economic activities and a resultant impact on jobs.
  4. CMIE, or Centre for Monitoring Indian Economy, is a leading business information company. It was established in 1976, primarily as an independent think tank.
  5. Today, CMIE has a presence over the entire information food-chain - from large scale primary data collection and information product development through analytics and forecasting.
  6. It provides services to the entire spectrum of business information consumers including governments, academia, financial markets, business enterprises, professionals and media.
  7. CMIE produces economic and business databases and develops specialised analytical tools to deliver these to its customers for decision making and for research. It analyses the data to decipher trends in the economy.