Labour market statistics derived from CMIE’s Consumer Pyramids Household Survey have been indicating a stagnation of India's economic recovery process from its April 2020 shock. The recovery was smart in May and spectacular in June. It continued well into July. Then, it stalled in August and September. Now, it appears that the stagnation could extend or worsen in October. We measure labour market conditions by the most apt summary measure for a developing country like India – the employment rate. This is the proportion of working age population that is employed.
Fiscal 2019-20 ended with an employment rate of 39.4
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