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Covid Second Wave: Over 1.5 crore people became unemployed in May!
By: Tupaki Desk | 3 Jun 2021 8:41 AM GMT
The deadly second wave of ongoing Covid-19 has started in India in April this year, as a result, the country witnessed the biggest surge in single-day infections and casualties. During May, over three lakh cases were reported and the count touched the massive 4-lakh mark in May, which has now reached over 1.32 lakh.
With the cases going up rapidly, several states have opted for lockdown measures and local restrictions. However, the lockdown restrictions have hit the business sector so hard, leaving several people losing their jobs.
Just like the first wave of Covid, the second wave of the virus is also very harsh towards the working people. Economic consultant, Centre for Monitoring Indian Economy (CMIE) said that in May, more than 1.5 crore people turned unemployed.
The unemployment triggered by lockdown was high in urban areas compared to rural areas. The unemployment rate in urban areas has increased to 18 percent as of the 30th of May.
The Covid had impacted the employment sector during January last year. As a result, more than 40 crore people have lost their jobs. What’s even more concerning is that, when the unemployment rate is increasing rapidly, the employment rate is not increasing.
India has one more big concern in the form of the Third Wave of Covid. In its report, SBI said, like the second wave, the third wave would also be so severe. If the same situations continue to prevail, India might witness the worst scenario.
With the cases going up rapidly, several states have opted for lockdown measures and local restrictions. However, the lockdown restrictions have hit the business sector so hard, leaving several people losing their jobs.
Just like the first wave of Covid, the second wave of the virus is also very harsh towards the working people. Economic consultant, Centre for Monitoring Indian Economy (CMIE) said that in May, more than 1.5 crore people turned unemployed.
The unemployment triggered by lockdown was high in urban areas compared to rural areas. The unemployment rate in urban areas has increased to 18 percent as of the 30th of May.
The Covid had impacted the employment sector during January last year. As a result, more than 40 crore people have lost their jobs. What’s even more concerning is that, when the unemployment rate is increasing rapidly, the employment rate is not increasing.
India has one more big concern in the form of the Third Wave of Covid. In its report, SBI said, like the second wave, the third wave would also be so severe. If the same situations continue to prevail, India might witness the worst scenario.
