India's unemployment rate hit 45-year high in 2017/2018: Report
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NEW DELHI: In India, unemployment rate rose to a 45-year high during 2017-2018
This has revealed in a report by Business Standard newspaper while quoting India's National Sample Survey Office.
According to assessment of the Survey, the unemployment rate stood at 6.1 percent, the highest since 1972-73 while labor force participation rate declined to 36.9 percent in 2017/18 from 39.5 percent in 2011/12.
The data provides the first comprehensive assessment of India’s employment since Modi’s decision in November 2016 to withdraw most of the country’s banknotes from circulation overnight.
Meanwhile, President of Congress party, Rahul Gandhi while criticizing said 65 million youth were jobless in 2017/18 contrary to Modi’s promise of creating two million jobs a year.
