The nationwide lockout which was imposed in India with the rapid spread of the dreaded virus has left a deadly impact on everything around us and the employment is surely one of them.
The recent data collected by an independent think tank Centre for Monitoring Indian Economy(CMIE) found out that as much as 12.2 crore Indians lost their jobs due to the pandemic.
What's even more shocking is that all these employees became unemployed in April only. Some media speculations that the lockout is likely to be extended is raising many concerns on the rising unemployment in the country.
On the other hand, some companies have slashed the salaries of most of the employees as an effort to fight the crisis.No one knows when the situation in the country gets under control.
The CMIE said that the unemployment rate in the country stood at 24.3 percent which is an indication of an alarming level. Out of them, 3.3 crore Indians who in earlier 30s lost their life and 1.4 crore people who are between the age group of 25 to 29 became unemployed.