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Over 6 Million White Collar Job Holders Turned Unemployed Between May-August: A Report
By: Tupaki Desk | 17 Sep 2020 3:30 PM GMT
A renowned business information company headquartered in the financial capital Mumbai said that between May to August more than 6 million white-collar job holders lost their jobs.
The Centre for Monitoring Indian Economy(CMIE) estimated that during the four months, nearly 6.6 million who hold the white-collar jobs lost their jobs and turned unemployed.
The report of CMIE termed the four months as the lowest unemployment level and estimated that white-collar job holders, including engineers, physicians, teachers lost their jobs. The savings of the job holders was also drained with employment loss.
In its report, CMIE claimed that after the white-job holders, employees of the Industrial sector were the worst-hit with this as around five million industrial workers turned unemployed. The last jobs translate to around 26 percent of the downfall in employment.
As per the report, during May-August 2019, the employment rate of the white-collar job holders saw a peak as over 18 million employees were recruited.
Within one year, everything turned upside down. Following the pandemic outbreak, over 12 million people lost their jobs in May-August in 2020. Experts call this the lowest percentage of employment in the last four years.
On the other hand, the report claimed that white-collar employees who hold the clerical level jobs didn't get affected much by the outbreak as most of them were directed to work from home.
The clerical level white-collar jobs include secretaries, office clerks, data-entry workers, BPO workers, and other desk-job holders.
The Centre for Monitoring Indian Economy(CMIE) estimated that during the four months, nearly 6.6 million who hold the white-collar jobs lost their jobs and turned unemployed.
The report of CMIE termed the four months as the lowest unemployment level and estimated that white-collar job holders, including engineers, physicians, teachers lost their jobs. The savings of the job holders was also drained with employment loss.
In its report, CMIE claimed that after the white-job holders, employees of the Industrial sector were the worst-hit with this as around five million industrial workers turned unemployed. The last jobs translate to around 26 percent of the downfall in employment.
As per the report, during May-August 2019, the employment rate of the white-collar job holders saw a peak as over 18 million employees were recruited.
Within one year, everything turned upside down. Following the pandemic outbreak, over 12 million people lost their jobs in May-August in 2020. Experts call this the lowest percentage of employment in the last four years.
On the other hand, the report claimed that white-collar employees who hold the clerical level jobs didn't get affected much by the outbreak as most of them were directed to work from home.
The clerical level white-collar jobs include secretaries, office clerks, data-entry workers, BPO workers, and other desk-job holders.
