Over 7.5 Million Jobs Lost in April: Experts Call for Fresh Relief Package for Marginalised -Ronak Chhabra
According to CMIE data, the national unemployment rate in April registered a four-month high of 7.97% – with urban and rural joblessness at 9.78% and 7.13% respectively – as against the previous month’s figure of 6.50%.
The recent surge in COVID-19 cases has sent the pandemic spiralling anew in the country, with its impact visible not just on the already strained healthcare infrastructure but also on the economic front – particularly the deteriorating labour market conditions.
As such, demands for a fresh economic package aimed at cushioning the blow of the pandemic and the subsequent shutdown measures on the marginalised groups have grown louder, with experts stressing that it must be treated as a “much needed relief” and not necessarily as a “stimulus”, unlike last year.
Over 7.5 Million Jobs Lost in April
The devastating effects of the second wave of COVID-19 is evident from the unemployment figures, now available for the month of April. Notably, rising infection rates during the same period necessitated imposition of localised lockdowns, if not a national one, in most of the major metropolitan cities.
Over 7.5 million jobs were erased in the month of April, compared to March, according to the data compiled by the Centre for Monitoring Indian Economy (CMIE). Resultantly, the national unemployment rate in April registered a four-month high of 7.97% – with urban and rural joblessness at 9.78% and 7.13% respectively – as against the previous month’s figure of 6.50%.
This is despite that fact that the labour participation rate (LPR) in April this year is suggestive of not falling to a level lower than that of March. “The subsequent three weeks that ended April 11, 18 and 25 show an average LPR of about 40.1%. Therefore, unless there is an unusual bounce in the last week, the April LPR is likely to stabilise at its March level of 40.2%,” Mahesh Vyas, head of the CMIE had suggested in a blog post earlier last week.
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Newsclick.in, 4 May, 2021, https://www.newsclick.in/7.5-Million-Jobs-Lost-April-Experts-Call-Fresh-Relief-Package-Marginalised?fbclid=IwAR0RAZZzFIOrhWdNtfOrSXMtADg0IdFlbBF8vKxZMEc5G4gPz1csA633PTQ