Impact of recession in economy, unemployment rate rises to 7.78 percent in February, highest in last 4 months

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New Delhi, 02 Mar 2020 Monday

There is bad news for the government on the employment front, with unemployment in India rising to 7.78 percent in February, the highest since October 2019, the first unemployment rate was 7.16 percent in January, according to data released by the Center for Monitoring Indian Economy (CMIE) on Monday. General Chat Chat Lounge

These figures show the impact of the downturn on the economy, noting that the unemployment rate was 7.5 percent in the four months from September to December 2019, while the unemployment rate has gone up by 8 percent between August and October 2019.

The Indian economy has grown at its slowest pace in the last three months of 2019, over the past 6 years, with analysts speculating that the Coronavirus global global outbreak will lead to a further slowdown in Asia's third largest economy.

Unemployment also increased in rural areas

CMIE's data shows that unemployment in rural areas has risen to 7.37 percent in February compared to 5.97 percent in the previous month, while in urban areas it has dropped to 8.65 compared to 9.70 last year.

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