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Tuesday, January 25, 2022

Corona’s second wave threatens jobs again, unemployment rate rises to 8.6% in April

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The possibility of a lockdown has increased as Corona cases have increased again. In such a situation, the risk of job retrenchment has increased like last year. According to the survey report, the feeling of disappointment is increasing among the people.

Unemployment

Last year, due to Corona epidemic, the Indian economy suffered a huge loss due to the lockdown across the country. During this time, jobs of millions of people were also lost. Now due to the second wave of Corona, the threat of people’s jobs has started again. Everyone is afraid of layoffs. This is also confirmed by the new employment data prepared by the Center for Monitoring Indian Economy (CMIE). Accordingly, the unemployment rate in the week ending April 11 has increased to 8.6%.

According to the report, the unemployment rate was at 6.7% two weeks ago. In such a situation, with the rising unemployment rate again and the possibility of a lockdown in the country again, everyone has been worried. Corona virus infection is increasing rapidly. In such a situation, the lockdown imposed by the states to prevent this, may increase the problem of layoffs in the coming days. This can be seen in the most difficult urban areas. It is around 10 percent.

Increased number of people leaving the job

Most people who worked in factories and factories, including migrant laborers, returned home last year due to the Corona epidemic. The economy looked back on track after the lockdown restrictions were relaxed. But for the last 2 months, there has been a steady increase in the corona cases, in such a situation, people are fearing that bad conditions will not happen again. That’s why many people are leaving jobs and turning to their homes. According to a survey by IHS Markit, since September 2020, the pace of leaving jobs has increased once again. There is increasing feeling of despair among the people. The consumer confidence survey of the Reserve Bank is also showing pessimism on jobs.

Also read: The decision of Indian Railways may shock the common man, traveling in Rajdhani train will be expensive!

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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