According to the Centre for Monitoring Indian Economy (CMIE), more than 1.5 crore citizens of India or 15 million Indians have lost their jobs because of the second wave of covid, and around 97% of households’ incomes have declined since the beginning of the pandemic last year.

CMIE had completed a nation-wide survey of 1.75 lakh households in April. According to CMIE, the unemployment rate is expected to be 12% at the end of May as against 8% in April.

In May last year, the unemployment rate had reached 23.5% during the national lockdown.
The normal is around 3-4%.

We discuss the same in detail with CMIE CEO Mahesh Vyas.

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