The year 2022 ended with 8.3 per cent of the job seekers in India being unemployed. The rate of unemployment in the urban area was 10 per cent and the rural unemployment rate was 7.7 per cent on December 31, 2022.
The data was released by the Centre for Monitoring Indian Economy (CMIE) that calculates and publishes the country’s unemployment rate on a daily basis. The unemployment rate is a ratio of the total estimated unemployed persons to the total estimated labour force for a month.
The rate of urban unemployment generally remains higher than rural. But the latter is considered more severe mainly because the causes of rural unemployment are more deep-rooted and hence, are more difficult to address, compared to urban unemployment.