 "Coronavirus is third shock to Indian economy in a little over 3 years")
The coronavirus pandemic is the third shock to the Indian economy in a little over three years. The economy will not escape unhurt. More importantly, households are likely to be hit through loss of jobs and/or earnings.
The impact of such economic shocks on the labour markets is usually on the young who delay their entry into the labour market in response to a fall in job opportunities. This shows up in a fall in the labour force participation rate. And, quite perversely, leads to a fall in the unemployment rate.
The labour participation rate did plummet in the last
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