Unemployment Rate Doubled In India:During the Corona period, millions of people have lost their jobs due to lockdown. This series, which started from last year, is still going on.
Let me tell you that in May last year, the unemployment rate was 21.73 percent. It has been reported in the report that a large number of workers are leaving the metros and heading towards home.
This is reflected in the released data (payroll data) of employees on regular pay. This figure explains the employment situation in the organized sector in the midst of the corona epidemic.
Situation on quarterly basis: Quarterly analysis of the payroll figures for FY 2020-21 shows that the number of employees on regular pay has been steadily improving since the second quarter.
The first quarter was affected by the corona virus epidemic. According to the statement, during the fourth quarter (January-March, 2021), the maximum 33.64 lakh new shareholders joined the EPFO. This represents 37.44 percent growth over the third quarter (October – December 2020).