1.5 Million people lost their jobs in August as unemployment rises!

Unemployment is on the rise in the country. This problem is growing day by day due to corona. On the other hand, 8.72 lakh vacancies were found in various ministries and departments of the central government. This was stated by Union Minister Jitendra Singh during the monsoon session of parliament. The Union Minister said that as of March 1, 2020, a total of 40,00,000 posts had been approved in all departments and ministries of Union Government. Of these, 31 lakh 32 thousands posts have been filled while 8.72 lakh posts are vacant. In the 2016-17 financial year, 25,024 people were employed by the UPSC, 2,18,601 by the SSC and 2,7,045 by the Railways, he said.

On one hand, the unemployment problem in the country is on the rise, while on the other hand, there are millions of vacancies in various departments of the government. This year, the unemployment rate was 6.5% in January, 6.9% in February, 6.5% in March, 8 percent in April and 11.6 percent in May. Although the rate has dropped since June, it was again on the rise in August.

The rise in unemployment in August comes after July witnessed nearly 15 million people joining the labour force primarily in low-productive agriculture work when the monsoon-led sowing season was at its peak.  Job additions in July mostly comprised poor-quality informal jobs, and  unless the economy recovers these people absorbed in agriculture work will find it tough to find alternatives, CMIE said last month.