2.1 Crore Join Workforce In May, But Market Still Far From Normal: Think-Tank CMIE


Labour market conditions improved in May as a number of people returned to work, despite the unemployment rate remaining “very high” at 23.5 per cent, think-tank Centre for Monitoring Indian Economy (CMIE) said on Tuesday. A total 2.1 crore jobs were added in May, and the labour participation rate improved significantly, CMIE said in a statement released on Tuesday. The latest data on unemployment from the private sector think-tank comes days after the country entered the fifth phase of a nationwide lockdkown to curb the spread of the coronavirus pandemic, which has battered an already-slowing economy in a big blow to businesses and workers.

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