There has been an encouraging development😊 on employment front in the country.
As per a report📃 by the Centre for Monitoring Indian Economy (CMIE), about 2 crore workers in India got back into employment in the month of May.
It came after the govt. eased the nationwide lockdown🔒 to control the spread of Covid-19 pandemic.
The Details
With the resumption of the economic activities🏭, the country’s employment rate rose by 2% to reach 29% in May compared to 27% in April.
As a result, the loss of 12.2 crore jobs since the beginning of the lockdown narrowed down⤵️ to 10.2 crores in May.
It comes on the back of increasing↗️ labour participation rate (LPR) in May.
This figure crossed 38% for the week ending May 17.
It implied that a significant number of workers👨🏻🏭 who had technically left the labour market in April returned back in the following month.
Notably☝️, the LPR was nearly 42% in March.
How this survey was done?
Normally, the CMIE surveys are conducted by using a monthly sample size of 1.17 lakh individuals🙍🏻♂️ who are interviewed by visiting them in person.
However, since the start of the lockdown, the sample size has been reduced to 11,000-12,000 individuals and people are being interviewed only through phone calls📱.
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