India’s unemployment rate drops to 4-month low
India’s jobless rate fell to the lowest level in four months in July, adding to signs of a nascent recovery in the economy where sales tax collections and demand for some commodities have signaled a rebound.
The unemployment rate dropped to 6.95% last month from 9.17% the previous month, according to latest data from private research firm Centre for Monitoring Indian Economy Pvt. While the rural jobless rate slid to 6.3%, urban unemployment stayed above 8%, showed the data, which is based on surveys and is widely accepted in the absence of timely government data.
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