Unemployment falls further
On 23 January 2017, the 30-day moving average of all India unemployment rate stood at 5.75 per cent, witnessing a drop of 23 basis points over the four day period beginning on 19th January. The decline in the overall moving average has been led by a large reduction in rural unemployment, thereby overshadowing the neglible rise in urban unemployment over the period.
Rural unemployment, as observed through the 30-day moving average shed 40 basis points from 4.92 per cent to stand at 4.52 per cent for the four day period. This is the seventh consecutive day when 30-day moving average of rural unemployment has remained below 5 per cent. Urban unemployment showed some upward movement with the 30-day moving average rising marginally by 7 basis points to 8.03 per cent for the same period. Consequently, the urban-rural rate differential gained 47 basis points to end at 351 basis points. A higher gap reflects growing inequality across regional employment.