This time: An unprecedented livelihood crisis could erupt in India due to Kovid hyperthermia. A few days ago, this fear was expressed by Jean Dreze, one of the members of the National Advisory Council of the central government during the UPA era and an economist. In this state of stagnation of the economy, the country Jobs It has also had a devastating effect on the market. A recent survey by the Center for Monitoring Indian Economy (CMIE) gives an example of how bad the situation is. While it has been claimed that around 9.7 million people lost their jobs in the entire fiscal year 2020-21, another 6.4 million people lost their jobs in April alone due to the ongoing wave of infections. This is not the end. Unemployment is still rising in the country every week. According to a recent survey by CMIE, the unemployment rate for the week ended May 9, which was 7.6%, has risen to 14.45% in one week, the highest in the last 50 weeks.

Earlier, unemployment was so high in June last year. At that time, the overall unemployment rate in the country under lockdown was 16.51%.

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Another example of how bad the current job market situation is in the country is found in the ‘Relationship’ Index of Micro, Small and Medium Enterprises (MSMEs). As can be seen, 4,61,922 people applied for 708 announced job positions on May 21. It is to be noted that the ‘Relationship’ index was introduced by President Ramnath Kobind. Job seekers trained by the National Institute of Micro, Small and Medium Enterprise (NI-MSME) can register their names on this online portal with their biodata. Employers also select the preferred candidate from here and give the job.

Unemployment rate peaks in May
Prashant Singh, vice-president of the consulting firm Timlies, blames Corona’s clutches in the country for the incredible figures. His demands, lockdowns and restrictions on public life came at a time when the country was gradually returning to normalcy. But in the second phase, as the killing rate increased several times, new recruits stopped working and multiple companies started cutting as production and service delivery became uncertain. Due to which the number of unemployed is increasing rapidly in the country.