Unemployment rate at 7%, Second Highest In Southern States

The increasing unemployment rate is sending jitters down the spines of youth and salaried employees in Andhra Pradesh .

The Covid crisis and deficit budget are like a double whammy to the state exchequer, which had been facing trouble since the bifurcation of the state. Now, the increasing unemployment rate will only drive people into more misery.

The unemployment is spreading fast in towns and villages with many employees in the private sector losing jobs or facing cut in salaries in the wake of Covid crisis. Citing financial reasons, many private companies have either cut the salaries of employees or removed them. If the same continues for some more period, the future will become stressful for the people, warn economists.

According to the Centre for Monitoring Indian Economy (CMIE), the unemployment rate for August was pegged at 8.1 per cent. In the report released by the CMEI, Andhra Pradesh is standing second in the southern states with 7% unemployment rate.

Karnataka is standing last with minimum unemployment rate of 0.5% in the entire country. In the neighbouring states of Telangana and Tamil Nadu, un employment rate was registered at 5.8%. Haryana is topping the list with 33.5% unemployment rate, the highest in the country while Kerala is topping the southern states with 11% unemployment rate.