Unemployment rate jumps to 4.7% as slowdown bites

Sep 21 2013, 09:32 IST
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Rural unemployment had risen to 4.4% during the last fiscal from 3.4% in 2011-12. Rural unemployment had risen to 4.4% during the last fiscal from 3.4% in 2011-12.
SummaryIndia's unemployment rate rose to 4.7% in 2012-13 from 3.8% in 2011-12.

The jobless rate was lower than 3% in Andhra Pradesh, Chhattisgarh, Gujarat, Karnataka, Madhya Pradesh and Mizoram.

A majority 48.2% of India's 491 million workforce are self-employed especially engaged in farming and retail trade, about 17.4% are wage earners and the remaining 34.4% are under contract workers or casual labourers.

In times of slowdown or a bad monsoon, the unemployment is higher for the casual labourers.

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