The pandemic pain is reaching rural India at a fast pace, data collected by Centre for Monitoring Indian Economy showed that rural unemployment has doubled in a single week and clocked in at 14.34% for the week ended May 16 from 7.29% a week ago. This is the highest level of rural unemployment since June last year which was in a total national lockdown.
The job crisis in urban centres also continued urban unemployment climbed to 14.71%, the national unemployment rate also soared to 14.65%. A large migration back to rural centres has escalated the problem as income opportunities remain next to nothing amidst the second wave of Covid-19.
Indian micro, small and medium enterprises (MSME) sector which is one of the largest employers in non-urban centres is continuing to struggle with financing gaps and lack of demand in the second wave.