NEW DELHI (Reuters) -India’s unemployment rate hit a four-month high in December, data from the Centre for Monitoring Indian Economy (CMIE) confirmed on Monday.
The unemployment rate rose to 7.9% in December from 7.0% in November, its highest since 8.3% in August.
Economic exercise and client sentiment have been hit within the South Asian nation after an increase in circumstances of the Omicron coronavirus variant and social distancing restrictions in lots of states.
Urban unemployment rate rose to 9.3% in December from 8.2% within the earlier month whereas the agricultural unemployment rate was up 7.3% from 6.4%, the data confirmed.
Many economists fear that the Omicron variant might reverse the financial restoration seen within the earlier quarter.
Mumbai-based CMIE data on unemployment is carefully watched by economists and policymakers as the federal government does not launch month-to-month figures.
(Reporting by Manoj Kumar; Editing by Himani Sarkar and Sam Holmes)
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