The unemployment rate in India surged to an eight-month high of 9.2% in June 2024, up from 7% in the previous month, according to data from the Centre for Monitoring Indian Economy or CMIE.
This figure also represents an increase from the 8.5% unemployment rate recorded in June 2023.
The unemployment rate reflects the proportion of people who are unemployed and actively seeking work among those in the labor force.
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In June 2024, the female unemployment rate was notably higher than the national average, reaching 18.5%, compared to 15.1% in June 2023. The male unemployment rate stood at 7.8%, a slight increase from 7.7% in the same month last year.
Rural areas experienced a significant rise in unemployment, with the rate climbing to 9.3% in June 2024 from 6.3% in May 2024 and 8.8% in June 2023.
Urban areas saw a smaller increase, with the unemployment rate rising to 8.9% in June 2024 from 8.6% in May.