India’s Unemployment rate soars to 45-year high in 2017-18
India, Politics

India’s unemployment rate soars to 45-year high in 2017-18

India’s unemployment rate touches a 45 year high with 6.1 percent during 2017-2018, according to NSSO’s (National Sample Survey Office) periodic labour force survey(PLFS) report cited by Business Standard.

The data report which has not been released to public yet, comes a day after the National Statistical Commission dived into a controversy when two of National Statistical Commission members which included the acting chairman resigned.

According to the information shared by the media website, the survey said that among the people in urban areas(7.8 per cent) more joblessness was noticed than in rural areas(5.3 percent) of the country.

The data talks about the year that followed the demonetisation which took place in November 2016. In the demonetisation exercise banknotes of Rs 500 and Rs 1000 were withdrawn over night.

Member of opposition parties slammed Prime Narendra Modi for the rising unemployment rates.

National Statistical Commission PC Mohanan on Wednesday cited non-publication of jobs data which were due to release in December and backdating of the data as the reason for their unhappiness.

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