The unemployment rate reaches its highest level in two years, with 6.9% in October, says CMIE data; the key things to know

While consumer confidence index was up 0.3 points to 100, index of consumer expectations CMIE data showed poor results

The unemployment rate in the country was recorded at 6.9% in October 2018, which is a bad news for the labor markets. It has reached its highest level in 2 years, according to the Center for Monitoring the Indian Economy (CMIE). ) The data. The number was 6.75 last October. A sharp drop in the number of people employed was observed, with the estimated number of people employed in October 2018 rising to 397 million, or 2.4% less than the 407 million employed in October 2017, showed the data. of October of the CMIE.

The report also indicates that in October 2018, 42.4% of the Indian adult population was interested in working. This activity rate was the lowest recorded since January 2016.

Job seekers are also rising, 29.5 million unemployed people actively seeking a job the following month. October of this year. That was more than the 21.6 million unemployed registered during the period given last year. While the consumer confidence index was up 0.3 point to 100, the consumer expectations index was set at 99.7, showed the CMIE data. Similarly, the index of the current economic situation stood at 99.1, according to October data of the IEIC.

Read also: Anniversary of the demonetization: news live: Manmohan Singh says the wounds become more visible over time, Arun Jaitley defends the move ] In India, 82% of men and 92% of women workers earn less than Rs 10,000 per month, according to "State of Working India 2018", established by Azim Premji University last month. The report showed that 43% of men and 71% of women earned less than Rs 5,000 per month in 2015.

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"The problem of low incomes in India persists despite the recent increase in wages," says the report. According to the report, 67% of households reported monthly earnings up to Rs 10,000 in 2015. According to the report, the minimum wage for the Seventh Central Remuneration Commission (CPC) is Rs 18,000. per month.