Unemployment Rate Surges In India, One In Four Loses Job

Coronavirus has severely impacted India's economy. In April and March, about 114 million people have lost their jobs as the economy reels from coronavirus pandemic and its implications. The CMIE data shows that the unemployment rate soared to 27.11% by May 3 from 6.74% on March 15. The unemployment rate in urban areas is 29.22% and in rural areas is 26.16%. The worst unemployment rate is in Puducherry and Tamil Nadu. The unemployment rates in Bihar and Jharkhand are over 45%, while in Maharashtra and Uttar Pradesh, it is below 22%