Unemployment Rate in India: India as a nation has always faced the backlash of being the country with one of the highest unemployment rates in the world. We have a huge population, making us one of the most highly populated countries in the world. However, a third-world nation that is still on its path to developing a huge sector remains uneducated and unemployed. In this article, we will share everything you need to know about the Unemployment Rate in India, a state-wise list, the latest 2022 data, and more.
Unemployment Rate in India 2022
India’s unemployment rate has increased to 8.3% in the year 2022. This came as a shock to many and has been talked about all over the globe. The economy’s growth is not disappointing at all. The numbers in fact did not disappoint per say. However, the new coming might be promising, and the government and trying to improve this rate. We cannot also ignore the impact of the recession which caused a major fallback in the employment rates.
Unemployment Rate in India 2022 Overview
| Unemployment Rate in India 2022 Overview | |
| Nation | India |
| Category | Unemployment Rate in India |
| Employment Rate | 8.3% |
| Prime Minister | Narendra Modi |
| Year | 2022-23 |
Unemployment Rate 2023 Predictions
The year 2023 comes with very high expectations. The new year will bring in many more hopes for the country and we are hoping that the government will take the right measures to tackle it. The goal is to simplify the current inflation statistics, which are currently very high. Due to the world facing recession, many effects have been on the Indian economy. The Indian system has been through a lot of problems ever since the pandemic.
The economy was performing at its best and when the pandemic hit the numbers lowered to unlikely amounts. The opposition parties are trying their best to make this drastic situation the reason to highlight a failure on the part of the current government. This however is not a consequence of the government’s actions but an international downfall. If it is tackled rightly the country might still be saved.
Unemployment Rate in India – State Wise
Unemployment was recorded to be highest in Haryana where the numbers were as high as 37.4% while Odisha had a very low rate of unemployment which was noted to be 0.9%. There are many states which were close to the rates of Haryana as well. These were the highest in the country and growth was from in a mere timeline of one month.
The increment came in from November to December. The change was drastic and it had its impact on the urban as well as the rural sectors of India. The rural employment rates grew by 0.2% – 0.4% while the rest of the urban areas saw huge numbers in the timeline.
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Unemployment Rate in India – Global Statistics
To begin with, unemployment is defined as a person who is willing and skilled to work but does not have a job. The job ratio is not determined at this very rate and at the moment the world itself is experiencing a big loss. The issue of unemployment hike in the UK, South Africa, and Kiribati. Now that recession is here in 2023, there is a chance that there will be a lot of job loss as well. Layoffs are the biggest problem at the moment.
There were over 10,000 jobs lost due to layoffs globally all over the world. This number came as a shock to many and many are currently struggling to find work. Unemployment was an error that had to be tackled, however, the change has not been in the right direction. Let’s hope for a brighter and more positive future.
Unemployment Rate in India FAQs
What is the unemployment rate in India?
As the December 2022 report, the Unemployment Rate in India is 8.3%
At what rate has unemployment increased in rural areas?
The increment rate of unemployment is 10.9%.
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