CMIE added that the migration to agriculture was happening despite the sector offering the lowest wage rates
As job loss insurance is available as a rider benefit, there is no separate process to renew the policy
The number of salaried employees dropped from 48.71 million in June to 46.15 million in July, showing a slow recovery in the formal sector.
According to CMIE data, 67% of all men of the working age group are employed, whereas only 9% of all women of working age are employed.
Indian economy news: The pan-India 30-day moving average unemployment rate tracked by CMIE settled well below 8%
The economic recovery after the second wave of the pandemic that experts are predicting is crucially dependent on the rise of consumption
For the week ending July 11, the 30-day moving average of unemployment rate in Pan-India, urban and rural sectors hovered in the 7%-9% range
According to a Reserve Bank of India survey in June, consumer outlook about the present and future was very low
According to CMIE estimates 2.27 crore jobs were lost in April and May, the two worst months of the second wave of the infection.
As the restrictions ease, urban unemployment rates that entered the double-digit territory from May 6, dipped to less than 10% on July 3