Visakhapatnam: The unemployment rate fell in Telugu-speaking states – Andhra Pradesh and Telangana in the latest October after witnessing a surge during the peak Covid19 period in months like May and June this year, compared with India's rate.
While the rate fell to 5.4% in AP, it was 4.2% in the TS. India's unemployment rate was 7.8% for October, according to the Centre for Monitoring Indian Economy (CMIE).
This attributes to various factors like reopening of the offices, industries, organised sectors, and also vast coverage of Covid19 vaccination drive among other factors. The unemployment rate was worst in states Rajasthan and Haryana, which touched nearly 30% while lowest in the states like Odisha (1.1%), Karnataka (1.5%), Meghalaya (1.8%) and Madhya Pradesh (1.9%).
Speaking to Deccan Chronicle, Andhra University's former economics Prof M. Prasada Rao, who retired this July, said that the Indian economy was transporting in the 'V’ shape. It means, the economy suddenly drooped to a low level during the peak period of Covid19 during the first wave and was slowing picking up movement.
The fall of the unemployment rate was due to the slowly picking up of the economic activity of the country and the states concerned.
“Wherein the state’s economic conditions improve, there the employment rate surges and simultaneously the unemployment rate falls. It doesn’t mean the Covid19 completely vanishes," Prof. Rao
Prof. Rao said 15 lakh jobs were increased in the month of September, particularly in the field of manufacturing, textiles and metal industries. Nearly 6 lakh in the non-farm sectors like construction, trade and transport, he added.
“Tourism, transport, tourism-related jobs were decreased due to the second wave threat,” Prof Rao said.
The skyrocketing prices of fuel also played a prime factor in the rising rate of unemployment rate in many states.
Most of the jobs were increased in the IT sector as many organisations did not cut the jobs and instead created new jobs by conducting recruitment drives in spite of the Covid19 that haunted the world in the last one and half years, said Sreedhar Kosaraju, president of IT Association of Andhra Pradesh (ITAAP).
“We have created nearly 12000 jobs in the IT sector in AP alone over a period of 15 months till June 2021. We were on top in employment creating during the Covid period,” Sreedhar said.
UNEMPLOYMENT RATE in October 2021
India – 7.8%
AP – 5.4%
TS – 4.2 %
Odisha – 1.1%
Karnataka – 1.5%
Meghalaya – 1.8%
Madhya Pradesh – 1.9%
Rajasthan – 29.6%
Haryana – 30.7%
