Unemployment rate in Telangana falls with Covid second wave

HYDERABAD: Telangana’s unemployment rate is on the decline again, after steadily rising for a few months amid the second wave of the pandemic. As per the monthly data released by the Centre for Monitoring Indian Economy (CMIE), the State’s unemployment rate, which had increased to 7.4 per cent in May, 2021, has now come down to 4.8 per cent in June, 2021.

The State’s rate of joblessness had gradually declined after the first wave of the pandemic, but quickly went up once the second wave surfaced. According to the 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.

The second wave and the subsequent lockdown resulted in a second spike in the State’s unemployment rate. However, recent data revealed that its has drastically come down in the month of June.A similar trend can be witnessed in the neighbouring States as well. Andhra Pradesh’s unemployment rate for for May, 2021, was 13.5 per cent. It has come down to 7.5 per cent in June.