Over 1.5 million Indians from formal and informal sectors have lost jobs in August
Says the report by the Centre for Monitoring Indian Economy (CMIE)
The number of the employed reduced to 397.78 mn in August from 399.38 mn in July
Rural India alone has faced nearly 1.3 mn job losses
CMIE says the national unemployment rate rose to 8.32% in August from 6.95% in July
Urban unemployment rose to 9.78% in August from 8.3% in July
Rural unemployment escalated to 7.64% in August against the 6.34% in July
The drop has led to a surge in the labour participation rate
CMIE data says 36 million people were actively looking for jobs in August compared to the 30 mn in July
Experts say the trend might continue for a few more months
The recovery will depend upon the economic growth and how well the country controls the third wave of coronavirus
