Advertisement
Advertisement

Economists say job opportunities have been hit by sluggish domestic demand and the slow pace of economic recovery amid rising prices.

Retail inflation rose to a 17-month high of 6.95 per cent in March, and is likely to peak around 7.5 per cent later this year, Shilan Shah, economist at Capital Economics, Singapore, said in a note on Saturday. He expects a repo rate hike by the central bank in June.

The data from the Mumbai-based CMIE is closely watched by economists and policymakers as the government does not release its own monthly figures.

They have also been watching the falling labour participation rate - the proportion of people in employment or seeking work among the working population. That slipped to 39.5 per cent in March 2022 from 43.7 per cent in March 2019, according to CMIE's earlier data, as millions lost jobs during the pandemic.

Read more from India
Post Comment
Advertisement
Advertisement