Employment may cross pre-Covid levels in Oct

The number of people with employment in India could cross the pre-Covid levels in October, the Centre for Monitoring Indian Economy said on Thursday, citing strong growth in job addition in September and the trend so far this month. India added 8.5 million jobs in September, taking total number of employed people to 406.2 million, which was 2.7 million short of the 408.9 million employed in 2019-20."The spurt in the labour participation rate and the employment rate give additional reasons to expect October to see a consolidation of the employment gains seen in September, or even a small expansion. The prospects of breaching the 2019-20 level are bright," the CMIE said. 87192633Weekly data by CMIE showed that the labour participation rate (LPR) stood at 41.6% in the week ended October 17, compared with 39.2% in the week to October 3 and 40.4% for the week ended October 10. The unemployment rate, though higher than in September, saw a week-on-week decline in October. It stood at 7.3% in the week to October 17, compared to 7.6% in week ended October 3 and 8.9% the following week.

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