CMIE managing director Mahesh Vyas said the fall was located mainly in the informal markets and that it is possible that this is largely a labour migration issue and not an economic malaise.
As the country battles rising unemployment, here’s what it means for the future of a budding workforce and the economy.
Chhattisgarh ranks first in the country with the lowest unemployment rate while the country's unemployment rate stood at 7.6 per cent in the same month (March).
The latest spike seems to be linked to the Omicron-driven Covid surge, according to Yeshab Giri, chief commercial officer - staffing at HR consultancy firm Randstad India.
The Centre for Monitoring of Indian Economy (CMIE), however, says India’s unemployment rate spiked to 7.75% in October from 6.86% a month ago.
The government’s efforts to kickstart the stagnant economy are yet to bear fruit. It would be wise to keep our feet firmly planted on earth and not rouse wild expectations.