 "manufacturing, economy, jobs, production, engineering, PMI, industries, services, workers,")
The month of June 2020 is witnessing a very rapid fall in the unemployment rate. After clocking 23.5 per cent in April and May, the unemployment rate first dropped to 17.5 per cent in the first week of June and then it took a steeper fall to 11.6 per cent in the second week. This fall is almost as dramatic as the rise in unemployment when the lockdown began.
The fall in the unemployment rate is doubly appealing as it is accompanied by an increase in the labour participation rate. The labour participation rate was 40.4 per cent in the
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