Urban unemployment rate at 9.62%, higher than rural


UnemploymentThe recent data revealed by BSE index showed unemployment rate in urban areas at 9.62 percent, whereas it stands at 7.15 percent in rural areas (as of April 6).

The overall figure for the country is 7.97 per cent, the index prepared by the top as identified by BSE in collaboration with business information firm CMIE (Centre for Monitoring Indian Economy).

The index is based on responses from over 1.30 lakh individuals in about 39,600 households spread across 315 cities and 3,000 villages in India. In the second half of February, the urban unemployment rate crossed the 10 percent mark while the corresponding figure for rural areas hit 5.82 per cent in the second half of January.

The data are the first instance of a non-governmental organization producing an unemployment measure for any country in the world. BSE had also said that it would also bring out state-wise unemployment rates later this year.