The above graph represents the weekly distribution of the unemployment rate in India 2020. Despite the small relaxations in the Covid-19 lockdown, the unemployment rate in India reached an all-time high of 27.11% in May 2020, from just 7.51% in January 2020. However, in mid-August, the country took a sigh of relief when the unemployment rate declined to 9.1%.
|Source||Centre for Monitoring Indian Economy (CMIE)|
It is important to note that India’s unemployment increased drastically during the last week of March 2020, as per the data revealed by CMIE. The unemployment rate in India shot up to 23.8% in 29th March from just 8.4% in 22nd March.
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