More Than 5 Million People Lost Jobs In October: Report
More than 5 million people employed in the formal and informal sectors, lost their jobs in the month of October 2021.
According to the monthly data released by the Centre for Monitoring Indian Economy (CMIE), the number of employed people in October was 400.77 million, down from 406.24 million recorded in September, 2021.
Labour force participation rate as well as employment rate fell month on month in October as against September. The national labour force participation rate (LFPR) was 40.66 per cent in September, but came down to 40.41 per cent in October. The LFPR in August had stood at 40.52 per cent.
On a brighter note, the employed people universe expanded by over 7,12,000 in urban India during October over September, as economic activities opened up in cities and urban centres.
At the same time though, rural India faced a sizable fall of more than 6 million workers in both formal and informal sectors, the CMIE data showed.
The industries sector saw around 7 million people losing their jobs in October as compared to September, mainly due to a slump in real estate sector employment.
At the same time, the service sector witnessed a rise in jobs during the period under review.
-
India's Troika Of Good Luck | Joining The Dots
A weaker Trump, a cooling AI trade and resilient earnings have put Indian markets back in favour. Rising inflation could spoil the party.
-
Talking Points This Week: Leadership Shock At Nvidia, Earnings Strength, And The Fog Over Hormuz
The Anthropic IPO pricing and first trading day, Nvidia's upcoming earnings, and any fresh signals from Iran will set the tone for the following week.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
