Many people have lost their jobs due to the lockdown in the country to stop the spread of the corona virus.

New Delhi: Many people have lost their jobs due to the lockdown in the country to stop the spread of the corona virus. After which the unemployment rate in the entire lockdown has gone up to 24 per cent.

PhotoNow, in the week of May 24, the rate has gone up further, bringing the unemployment rate to 24.3. This is according to the latest data released by the Centre for Monitoring Indian Economy (CMIE).

This figure is a kind of record, as the month before; the unemployment rate was only 5-6 percent. The unemployment rate for the first eight weeks of the lockdown was 24.2 percent. After that, the average unemployment rate till May 25 was 24.5 per cent.

During this period, the urban unemployment rate was 26.3 percent and the rural unemployment rate was 23.7 percent.

According to the CMIE, the urban unemployment rate was higher than the rural unemployment rate throughout May. Earlier, according to the Centre for Monitoring Indian Economy (CMIE), the unemployment rate for the week ended May 3 was 27.11 percent.

PhotoThat is, one out of every four people became unemployed. This is the highest unemployment rate in the country. In addition, last week's data showed a decline in the Labour participation rate.

Meanwhile, the Labour participation rate stood at 38.7 per cent as against 38.8 a year ago. This high unemployment means that a large number of people are looking for work but are not getting it. The decline in labour participation means that fewer people are willing to work.

In April, Pondicherry recorded the highest unemployment rate at 75.8 per cent, followed by Tamil Nadu at 49.8 per cent.