The estimated unemployment rate for urban regions in India hit a 30-month low in February 2021. It fell to 6.99 per cent, the lowest since August 2018, according to data from CMIE. The overall unemployment rate for the month stood at 6.9 per cent and, for rural regions, it was 6.86 per cent.
The fall in unemployment can be attributed more to the opening up of the economy, which is more pronounced in urban areas, said Madan Sabnavis, Chief Economist, CARE Ratings. Besides, other sectors such as financial services, real estate and construction that employ a chunk of the labour force, recorded a good growth in the October-December quarter last year. Here's all you need to know.
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