(Image source from: livemint.com)

With the arrival of the second wave of coronavirus, all the states had to impose lockdown. With several businesses staring at losses, several youngsters lost their jobs in various fields across the country. The rate of unemployment took a huge rise all over. The rate gradually declined after Telangana reopened for business last year. With the arrival of the second wave of coronavirus, the unemployment rate saw a huge rise. The data has been released by the Centre for Monitoring Indian Economy (CMIE) said that the unemployment rate came down to 4.3 percent in January 2021 and it increased to 7.4 percent in May. The unemployment rate reached a record high last year to 14.7 percent but it declined slowly.

CMIE said that the unemployment increased due to the second wave of coronavirus. In March 2021, it was 3.7 percent and it climbed to 5 percent in April and is 7.4 percent in May. The national unemployment average for the month of May is said to be 11.9 percent. The unemployment rate in Andhra Pradesh for the month of May is said to be 13.5 percent and for Karnataka, it is 5.3 percent. Several people are left jobless in Andhra Pradesh from the past couple of months. The state government too imposed lockdown and extended it for the month of June. It would take months for the normalcy to return back.

By Siva Kumar