Economic News

India’s June jobless rate falls to 11%: private think-tank CMIE

A man carrying a sack walks past a graffiti of a healthcare worker during a lockdown to slow the spread of the coronavirus disease (COVID-19) in Mumbai, India June 29, 2020. REUTERS/Francis Mascarenhas

NEW DELHI – India’s unemployment rate in June fell to 11% from 23.5% in May, according to data released by the Centre for Monitoring Indian Economy (CMIE) on Wednesday as economic activities resumed after government eased pandemic lockdown restrictions.

The virus has infected over half a million people in the world’s second-most populous nation, hitting economic activity, but fall in unemployment rate suggested the worst may be over for the economy, at least for now.

Separately, the finance ministry in a statement on Wednesday said the gross Goods And Services Tax collections, an indicator of economic activities, in June touched 909.17 billion rupees, equal to 91% Of the collections in the same month last year.

Reuters

July 1, 2020

Reporting by Manoj Kumar; editing by Louise HeavensOur Standards:The Thomson Reuters Trust Principles.

https://in.reuters.com/article/india-economy-jobs/indias-june-jobless-rate-falls-to-11-private-think-tank-cmie-idINKBN2424YY

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