India's unemployment rate rose to 5.5% in May from 5.2% in April, according to government data released on Monday.The latest reading was marginally higher than expectations in a Reuters poll, which had projected the unemployment rate at 5.3%.The increase of 30 basis points on a month-on-month basis indicates a slight uptick in joblessness during May.The data showed moderation in both the Labour Force Participation Rate (LFPR) and the Worker Population Ratio (WPR) during the month, alongside the increase in unemployment.The moderation in LFPR and WPR with an increase in UR indicates a softening of labour market conditions during the period. While labour force participation declined marginally, employment opportunities contracted at a faster pace, leading to a rise in the proportion of unemployed persons within the labour force.
India's unemployment rate rises to 5.5% in May
India's unemployment rate saw an increase in May, reaching 5.5%. This marks a rise from April's 5.2%. Government data indicates a slight uptick in joblessness. Both the Labour Force Participation Rate and Worker Population Ratio moderated. This suggests a softening of labour market conditions. Employment opportunities contracted, leading to more unemployed individuals within the labour force.
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