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Employment reaches almost pre-pandemic levels
December 09, 2021
One of the most crucial indicators of economic recovery is employment data and the employment rate for the long stretch of November as tracked by CMIE (Center for checking Indian Economy) shows.
The unemployment rate has additionally dropped from 7.75% in October to 7% in November according to this information. While the general number shows improvement, metropolitan employment has increased from 7.38% in October to 8.21% in November. It is the decrease in rural employment that has helped the overall number.
Mahesh Vyas, MD and CEO of CMIE says 1.4 million positions were included November which is a good sign. “Employment rate has gone up somewhat however it implies a great deal since it depends on the complete population”, he says in a meeting to ET Now. What is stressing however is the deficiency of metropolitan positions remembering a decline for salaried jobs and the quality of occupations that have been added.
The CMIE data is at odds with information from Naukri.com that shows an expansion in job listings of 26% in November compared with that very month last year. News reports likewise talk regarding how IIT graduates are being presented as much as ₹2 crore for every annum as starting salaries and start-ups are in an bidding war for top talent.
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