new Delhi. Employment opportunities decreased in the country in February. During this period the unemployment rate rose to 7.78%. This is the highest in four months. The unemployment rate increased by 0.62% over January. The data came out in a report released on Monday by the Center for Monitoring Indian Economy (CMIE). According to the report, the unemployment rate in February 2020 has been the highest since October 2019.
The report said that the economic slowdown is impacting the economy. The growth rate of the Indian economy has reached a six-year low in the last three months of 2019. Analysts have expressed the possibility of further economic slowdown due to the corona virus spreading in China.
Unemployment increased more in rural area
The CMIE report said that fewer people got employment in rural areas in the month of February. Due to this, the unemployment rate in rural areas has increased to 7.37% in February from 5.97% in January. The unemployment rate in the urban area has recorded a decrease and has come down to 8.65% in February from 9.70% in January. CMIE Mumbai Best is a private think tank.