HYDERABAD: Telangana's unemployment rate for July was four per cent, the second-lowest among southern States. Only Karnataka, with a two per cent unemployment rate, recorded lower figures. After the State government announced relaxations in the Covid-induced lockdown, Telangana, over the last few months, has been witnessing a steady decline in its unemployment rate, points out a report on monthly unemployment rate by the Centre for Monitoring Indian Economy (CMIE).
The data, released on Sunday, showed that the unemployment rate for the month of July was four per cent -- a 16.6 per cent decrease from June. The national unemployment rate for the month is seven per cent. Both the waves of Covid-19 resulted in major job losses in the State.
According to CMIE, the unemployment rate had skyrocketed in May, 2020, touching 14.7 per cent. By August, 2020, it had declined to 5.8 per cent and by January, 2021, it had plummeted to 4.3 per cent. Following a similar trend during the second wave, joblessness in the State was at its peak in May, 2021, when it was 7.4 per cent, before gradually decreasing in the last few months.