India’s unemployment rate dropped to 6.95 per cent in July. In March, India’s unemployment rate was 6.5 per cent and increased to 7.97 per cent in April and 11.9 per cent in May, according to the Centre for Monitoring Indian Economy (CMIE). “The July data shows some recovery. The labour participation rate, unemployment rate and employment rate have all jumped back to the March levels,” CMIE’s MD & CEO Mahesh Vyas said.

Chairman and Managing Director of Genius Consultant, R P Yadav, said, “The whole industry is looking for growth in businesses for market share. Suddenly the demand for recruitment has risen from many industries. The unemployment is further going to reduce in the second and third quarter.” The overall unemployment rate peaked at 23.52 per cent in April last year but started to decrease soon. It was at 21.73 per cent in May and 10.18 per cent in June last year.