HYDERABAD: Telangana's unemployment rate has been coming down since the lockdown was lifted. This fact is corroborated yet again in the Centre for Monitoring Indian Economy’s (CMIE) latest figures for the month of October where it puts the State's unemployment at 2.9 per cent.
The rate of unemployment has been increasing since June, before it peaked in May as a result of the ongoing pandemic and the subsequent different stages of lockdown. In July, Telangana's unemployment rate was at 5.4 per cent. In August it was at 5.8 per cent, in September it was at 3.3 per cent.
However, it is important to note there is now a major difference in the figures that CMIE had earlier given for the month of May, June, and so on for Telangana. Earlier, CMIE in their 'monthly time series' had given Telangana's unemployment rate as 34.8 per cent for May, but now it is given at 14.7 per cent for the same month. Similarly, there are stark difference in percentages that CMIE had earlier given for Telangana, and what it now projects on its website.
Meanwhile, only three States, as of now have a better rate than Telangana. Karnataka has the best unemployment rate in the country at 1.6 per cent for October. Odisha and Tamil Nadu are at 2.2 per cent. In fact, Telangana’s unemployment rate is far better than the all-India average which stood at 7 per cent. It increased from 6.7 per cent in September.
Unemployment rates of many States have worsened in the last month. For instance, neighbouring AP was at 6.4 per cent in September and it deteriorated to 6.6 per cent in October. Assam, Chhattisgarh, Himachal Pradesh and other States saw a similar trend.
However, economists are sounding a word of caution and urging the government to continue with its inducing policies as the effect of the ongoing pandemic and economic downturn will continue to assert its presence in the months to come.