Joblessness in India surge as coronavirus bites
Munawar Zaman
Press TV, New Delhi
Based on data by the centre for monitoring Indian economy, India’s unemployment rates have soared to about 10 percent since the onset of covid-19 pandemic and lockdowns, millions of lives have come under threat especially the informal labor sector.
Based on some reports nearly 19 or 12 million formal economy workers also lost their jobs between the month of April and august. Observers say the worst is yet to come considering the extent of crises.
The most affected are the young informal workers aged between 18 and 40 who have faced layoffs therefore leaving them with no options rather than to rely on some government cash handouts which doesn’t reach everyone, charity or begging. The country has been under lock-down since March 25 to curb covid-19. Data shows devastating impact of the lockdown on the country’s job sector.
According to a recent report by London school of economics the pandemic has devastated the livelihood of millions in India and created a new underclass of workers who are being pushed into extreme poverty. Informal workers are the worst hit the report said.
Reports suggest 52 percent of urban Indian workers went without payment or work and received no financial assistance to deal with the crises. It stressed on the national policy to prevent many slipping in extreme poverty and long term unemployment.
In India an estimated 1.3 million people join the job market each month but the shrinking job sector means a looming unemployment crises therefore putting the world’s largest youth population at enormous crises. Even before the pandemic India was one of the hardest places to be a young job seeker.
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