Rising unemployment basically includes the salaried person and shrinking real income . As a result this has led to lack of demand in the economy
According to the Center for Monitoring Indian Economy date ,the unemployment rate rose to 8% in April as compared to march . The labour participation rate was 40% in April , according to the private economic forecaster .
Lack of demand is taking place due to the lower salary given to the people .According to the report 90% people have seen income shrinkage (i.e , real income , adjusted for inflation ).
According to RBI real economy indicators moderated through April-may 2021 . The biggest toll is the terms of demand shock. There has been lack of mobility , discretionary spending and unemployment.
The stain in labour market in April was not entirely because of partial lockdown but because the employment simply could not provide economy at a large numbers .
The size of salaried class income is shrinking for the third consecutive month in April , with 3.4 million jobs lost . During 2019-20, there were 85.9 million salaried jobs . s of April 2021, there were just 73.3 million.
Economist ere shocked , women in the labour force were mostly infected. About 75% of men were already at the labour force . but for women, it is only 10-20%.
This overall perspective gives a entire report about the current scenario that India is facing.
