Among a plethora of issues the ruling dispensation at Delhi is dealing with, in terms of gravity, it is undoubtedly the current unsteady state of the Indian economy in general and unemployment in particular. Over the last one year or so, various studies, reports and statistical data have been ample enough speak of this harsh reality which is also gradually getting untameable. Another one has hit the public domain, and this time it shows that, as of now, there is still no sign of any of hope. Centre for Monitoring Indian Economy (CMIE), a much respected and seriously taken independent research organisation on Friday last released a database which shows that unemployment rate for the month of October 2019 is the highest since August 2016, one more and latest reflection of the nation’s economic ruin. It’s altogether a baffling situation now and as the crisis snowballs further bigger in size, even the best thinkers in the field of economics are taking no risk of predicting a future time frame when things will make a turnaround.
As per the data, India’s unemployment rate rose to a three-year high of 8.48 per cent in October, up from 7.16 per cent in September and the last time the unemployment rate higher was in August 2016 when it was 9.59 per cent. In this context it must be recalled that back in May this year, Ministry of Statistics and Programme Implementation released the report of National Sample Survey Office which showed that unemployment rate in the country had touched 6.1 per cent, a 45-year high.   What is most worrisome is that unemployment wave has hit the unorganised sector most, which includes season labour and daily wage earners. If the rising unemployment graph can be considered a solid indicator of the true picture of the economy, there are other distressful factors too that will perhaps give a more clearer hint about the current state and the future that will unfold. As many as seven of the eight core industries saw a contraction in output in September in varying degrees that include coal, crude oil, natural gas, refinery products, cement, steel and electricity. The overall purchasing power, both among urban and rural population has somehow been eroded and even the current festive season has proved little effective to brighten up the mood. Although a set of economic measures have already been set taken, doubts continue to linger about their fruitfulness.  
In a country where unemployment is a perennial problem, back to back deluge of data portraying added grimness is really disheartening. The invisible ‘No Vacancy’ board is actually everywhere and how long it will remain is very difficult to fathom.

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Kenter Joya Riba

(Managing Editor)
      She is a graduate in Science with post graduation in Sociology from University of Pune. She has been in the media industry for nearly a decade. Before turning to print business, she has been associated with radio and television.
Email: kenterjoyaz@easternsentinel.in / editoreasternsentinel@gmail.com
Phone: 0360-2212313

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