India’s unemployment rate at 2-year high

KATHMANDU: India’s unemployment rate has reached its highest point in two years.

The latest data from the Center for Monitoring Indian Economy reveals that India’s unemployment rate has surged to its highest point in two years.

In October, the overall unemployment rate in India reached 10.05 percent, marking a substantial increase compared to September’s 7.09 percent.

This level is the highest recorded since May 2021, with rural areas being notably affected. In rural regions, the unemployment rate climbed to 10.82 percent in October.

One of the primary contributors to this situation is attributed to weak monsoon rains over the past five years, which have had an adverse impact on agricultural production.