AFTERMATH OF COVID-19: NUMBER OF JOBS LOST, AND SECTORS AFFECTED - REPORT!

According to data released by Cime- Centre for monitoring Indian Economy and Nomura Global Economics, the Indian Economy has lost 124 million Jobs in March and April. Although most of it has been reported from the informal sectors comprising small traders and wage labourers, even self- employed businesses and salaried employees have lost their jobs.

The data indicates that unemployment rate in the country was somewhere between 8 to 9 percent in June 2019, whereas at present it stands at 17%. It peaked during April and May when it was above 25%.

The data cites that almost 113.6 million people have lost jobs during April 2020. Small traders and wage labourers alone have lost 78.7 million jobs during this period. While the figure stands at 20.2 in businesses, 14.9 million salaried employees have lost their jobs during April 2020. Job cuts in other sectors led to 0.1 million people pushed out of their jobs according to the report.

COVID19 Pandemic has induced poverty and caused unemployment