Urban Employment Opportunities Rise Amid Coronavirus Pandemic in India
Coronavirus in India: In the last weekend ended July 19, the urban employment rate recovered to 35.1 per cent.
Coronavirus in India: Due to the coronavirus crisis, millions of Indians have lost their jobs and continue to worry as the pandemic situation in India seems to worsen. But even as rising coronavirus cases and irregular lockdowns threaten India's employment recovery rate, data on new jobs added in July gives a new ray of hope.
The Centre For Monitoring India Economy (CMIE) report said there had been further progress in labour conditions in July and a further decline in the unemployment rate. Urban employment opportunities are also on the rise.
While the gain in July has not been anywhere close to June, but there has been an improvement in job numbers. The Mumbai-based think tank earlier predicted a fall in the employment rate in July.
"But, the net results seem to be headed towards consolidating and making further gains in July albeit lesser than in June," said the report by Mahesh Vyas, the CEO of CMIE.
There has been a rise in labour participation, and employment rate also rose to 38.4 per cent in the weekend of July 19.
GOOD NEWS FOR URBAN JOB SEEKERS
The employment rate in June rise with substantial rural participation, but for urban job seekers, there was little cheer. The trend is slowly changing as urban employment rate has also enhanced.
During the first three weeks of July, the average employment rate was 37.5 per cent. The employment rate is still weaker than pre-lockdown levels, and urban India observed a surprise recovery in jobs.
In the last weekend ended July 19, the urban employment rate recovered to 35.1 per cent — the highest rate after the maximum fall in April.
As per CMIE, the rate had increased to 34.5 per cent in the week ended June 28 but reduced to 33.2 per cent in the first week of July. From the past week, more jobs are being added in urban India— something that brings relief to millions of people who are still looking for a job in a rather tepid market.
Essential services and service sector jobs have also heaved on job portals like LinkedIn and others. Due to the sharp rise in cases, the situation continues to remain unsure; most experts expect a sharp v-shaped recovery in employment if the trend continues.