Second National Conference also has a key emphasis on ‘Employment’.
National Conference to Conclude on January 7th
The second National Conference of chief secretaries of states with Prime Minister Narendra Modi is being held in New Delhi, from the 5th to the 7th of January. It is a three-day conclave which focuses on two main issues: Growth and Jobs, and Health, Gender and Climate.
In 2022, companies have shut down, various employees have been laid off and salaries have been put on hold for months. The pandemic was the biggest reason influencing the unemployment rate in India. Varying figures of increase and decrease were reported by CMIE and NSO. The main discussions of the National Conference are around job creation and growth in India.
Report by NSO
National Statistical Office (NSO) is a statistical wing which works as an important part of the main ministry. Before the commencement of the National Conference, NSO released its quarterly data in November. According to this data, the unemployment rate declined to 7.2 per cent in the July-September quarter, from 7.6 per cent in the previous quarter.
This change was experienced when the economic activities started increasing after the COVID restrictions were removed by the government.
Report by CMIE
CMIE is a Mumbai-based private limited organisation which has offices throughout India. It functions as an economic think tank as well as a business intelligence information provider. The CMIE has developed data on India’s economy and also on other private sector companies. All the data is provided in the form of either research papers or datasets.
India’s unemployment rate in December increased to 8.30 per cent from 8 per cent in the previous month. This was shown on 1st January by the Centre for Monitoring Indian Economy (CMIE).
The CMIE data also showed that the urban unemployment rate saw a rise up to 10.09 per cent in December in comparison to 8.96 per cent in the previous month. Contrary to this, the rural unemployment rate slipped and came to 7.44 per cent from the previous 7.55 per cent.
Mahesh Vyas, the Managing Director of the CMIE, said that the rise in the unemployment rate was “not as bad as it may seem,” as it came on top of a healthy increase in the labour participation rate, which shot up to 40.48 per cent in December, the highest in 12 months.
He further added, “Most importantly, the employment rate has increased in December to 37.1 percent, which again is the highest since January 2022.”
According to one of the data reports of CMIE, the unemployment rate increased to 37.4 per cent in the northern state of Haryana, 28.5 per cent in Rajasthan and 20.8 per cent in Delhi.