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New BSE index shows India’s unemployment rate at 7.97 per cent

India TV Business Desk April 08, 2016 18:18 IST
India TV Business Desk

Mumbai: India’s overall unemployment rate currently stands at 7.97 per cent, a new index launched by the Bombay Stock Exchange to measure the unemployment rate in the country has revealed.

According to the new index, which has been developed by the BSE in collaboration with the Centre for Monitoring Indian Economy, India’s rural unemployment rate stood at 7.15 per cent, while the count for figure for urban India stood at 9.62 per cent, the index showed.

All figures correspond to data collected till April 6.

According to the BSE, this is the first time ever that a non-governmetal organisation has come out with an unemployment index.

The index is based on responses from over 1.30 lakh individuals in about 39,600 households spread across 315 cities and 3,000 villages in India.

As of April 6, the jobless rate (urban) stood at 9.62 per cent while that of rural areas was 7.15 per cent, the index showed.

In the second half of February, the urban unemployment rate crossed the 10 per cent mark while the corresponding figure for rural areas hit 5.82 per cent in the second half of January.

The data, which were recently launched by BSE, are the first instance of a non-governmental organisation producing an unemployment measure for any country in the world.

Earlier this month, BSE had said it would also bring out state-wise unemployment rates in a few months.

(With PTI inputs)