India's unemployment rate spikes to 43-month high

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India's unemployment rate spikes to 43-month high

Apr 07, 2020 12:37 IST

India's unemployment rate spiked to the highest level recorded in 43 months in March, Centre for Monitoring Indian Economy (CMIE) said on Tuesday. The unemployment rate stood at 8.7% in March, the highest since September 2016, climbing steeply from 7.16% in January. The report comes as India entered the fourteenth day of a 21-day nationwide lockdown to curb the spread of the deadly coronavirus pandemic. The unemployment rate during this last week was 23.8%.

Economy