Center for Monitoring Indian Economy Pvt Ltd ( CMIE) has conducted a survey on India's Unemployment position after the national wide Lockdown period due to Caronavirus. Covid-19 is showing great impact on Indian Economy and also on Unemployment rate across the world. As according to the survey overall rate raises to 23.4 percent of the people lost jobs during this Covid-19 Lock down break period. Especially Urban unemployment rate raises to 30.9 percent compared to earlier months.
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The Chief Executive officer of CMIE Mr Mahesh Vyas said that the unemployment rate was 23.4% for the week end April 5 2020. For the month of March the unemployment rate is 8.7% compared to that of 7.8% in February. The report was generated based on 9,429 observations. In March CMIE did survey with a sample size of 1,17,000 Individuals. It is estimated that more than 50 million people might have lost jobs in this lock down period. The actual scope of unemployment is even little higher.
As according to Government Reports The Unemployment rate in 2019 is 6.1% ,a 45 year high.The unemployment rate is significantly increased as there are big variations when compared to earlier months. All with CMIE the private sector group was also conducted the survey through telephones as there is no provision for the regular survey
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