India's jobless rate slides 8.7% in signs economy is turning around

Rate for the week to June 13 fell to 8.7% from 13.6% a week ago, data from Centre for Monitoring Indian Economy showed.

India’s unemployment rate dropped sharply last week, in the first sign that Asia’s third-largest economy may be turning a corner after the world’s worst coronavirus outbreak.

The jobless rate for the week to June 13 fell to 8.7% from 13.6% a week ago, data from private research firm Centre for Monitoring Indian Economy Pvt. showed. Urban unemployment fell to 9.7% from 14.4%, while the rural measure declined to 8.2% from 13.3%.

That coincided with an improvement in mobility data as many Indian states lifted localized lockdowns imposed to curb the virus’s spread. Google’s Community Mobility Report data on