Tuesday, 25 January, 2022
HomeEconomyIndia sees job losses as curbs return to check new Covid wave,...

India sees job losses as curbs return to check new Covid wave, urban areas severely hit

According to the data by Centre for Monitoring Indian Economy, unemployment touched 8.6% for the week ending April 11, whereas it’s nearing 10% in urban areas.

Text Size:

New Delhi: A fresh round of provincial lockdowns to curb the record rise in virus infections is leading to job losses in India, according to the latest employment data by a private research firm.

Unemployment touched 8.6% for the week ending April 11, from 6.7% two weeks ago, showed the data by Centre for Monitoring Indian Economy Pvt. Ltd. The hit is more severe in urban areas where it’s nearing 10% as local media shows images of workers fleeing cities fearing harsher curbs like last year.

Asia’s third-largest economy is potentially on track to regain the second spot from Brazil after adding a record 168,912 cases in a day, taking the tally to 13.53 million cases. It is facing an escalating health crisis with the second wave overwhelming hospitals and forcing states to restrict activities.

While wealthiest Maharashtra, the worst hit by the virus, is contemplating more curbs after announcing a strict weekend lockdown, national capital Delhi, which is operating under a night curfew, has warned of more restrictions if its medical facilities collapse.

The pandemic had led to record job losses in India after a national lockdown last year saw millions of migrants heading back to their villages, many of them walking miles without proper food and water. Some of the jobs came back as the economy reopened and infections surprisingly started receding.

The resurgence of Covid-19 is worsening the outlook again with jobs last month falling at the quickest pace since September 2020, according to a survey of manufacturers by IHS Markit. The central bank’s consumer confidence survey is also showing increasing pessimism on jobs.

Prolonged and widespread night curfews could possibly lead to “another bout of reverse migration,” said Kunal Kundu, an economist with Societe Generale GSC Pvt. in Bengaluru. “Job creation will remain a challenge.”- Bloomberg

Also read: Maharashtra Covid task force feels ‘lockdown is required’, but decision only after 14 April


Subscribe to our channels on YouTube & Telegram

Why news media is in crisis & How you can fix it

India needs free, fair, non-hyphenated and questioning journalism even more as it faces multiple crises.

But the news media is in a crisis of its own. There have been brutal layoffs and pay-cuts. The best of journalism is shrinking, yielding to crude prime-time spectacle.

ThePrint has the finest young reporters, columnists and editors working for it. Sustaining journalism of this quality needs smart and thinking people like you to pay for it. Whether you live in India or overseas, you can do it here.

Support Our Journalism

Most Popular