Unemployment jumps 10.2% in two years
Unemployment in India jumped more than 10 per cent in two years to January 2012 as rate of economic growth continued to be on the falling side, figures released by the National Sample Survey Organisation (NSSO) revealed.
According to the fresh figures, unemployment increased 10.2 per cent, from 9.8 million unemployed on January 1, 2010 to 10.8 million unemployment people on January 1, 2012.
The increase in unemployment was the reflection of declining rate of GDP (gross domestic product) growth, which slipped to 6.2 per cent in FY2011-12 and further to a decade low of 5.0 per cent in FY2012-13.
It is worth mentioning here that the unemployment figures were collected on the basis of people's primary area of activity, and also their other optional works. Thus, if only people's prime activity was taken into account, the number of unemployed people could be even higher than the official figures.
Pronab Sen, chairman of National Statistical Commission, said that deceleration in growth was the biggest reason for the increase in unemployment in the country, but added that it was not massive.
The official data also revealed that households' monthly expenditure in urban and rural India increased 36 per cent and 54 per cent, respectively, in the past 18 years.