(MENAFN- Kashmir Observer)
Srinagar- Even as there was a substantial increase in the unemployment rate in Jammu and Kashmir in the month of August, the joblessness rate has come down by over 9 percent in the Union Territory in September, as per Centre for Monitoring Indian Economy (CMIE).
According to the CMIE data, even though J&K's unemployment rate was higher than the national average, it still saw a decline in September as the rate came down to 23.2 percent compared to the previous month's 32.8 percent. The latest UR for the month of September has brought some respite as the UT registered a 9.6 percent decline in the joblessness rate against the previous month.
As per reports, J&K's higher than national average unemployment rate is primarily because of the slower economic growth resulting in fewer job opportunities and also due to a much lower resilience to absorb the pandemic shock.
In August, J&K's unemployment rate had soared up to a six year high when it touched 32.8 percent. Amid the unrest of 2016, J&K's unemployment rate stood at 25.3 percent in September, 26.3 percent in October and 29.9 percent in November.
The latest unemployment figures have also brought forth that Rajasthan has the highest Unemployment rate at 23.8 percent followed by J&K and Haryana where the UR stood at 22.9 percent. J&K has the second highest Unemployment rate in India, as per CMIE. As per the data available, unemployment figures in the UT have sporadically changed since the start of 2022, showing an astronomical rise since last year.
As per CMIE, since the start of this year, there has been an increase of over 11 percent in the unemployment rate. In the month of January, the data notes, J&K's UR stood at 15 percent. Though in the month of February it dipped down to 13.2 percent but in March the rate took an ugly turn and jumped to a grueling 25 percent. However, the rate came down in the following months till July.
Pertinently, a superficial look at the month of march, when J&K was standing at an unemployment rate of 25%, had brought into forth that roughly over 1.1 million people were jobless in J&K.
Another credible labor survey report which substantiates the chronic unemployment scenario in the region was published by the Union Ministry of Statistics and Programme Implementation. The urban unemployment since the highly infective second Covid wave in Union Territory of Jammu and Kashmir, remained at very high levels, as per the periodic labor force survey (PLFS) data.
However, as per the administration, unemployment in Jammu and Kashmir has remained a big concern for the past 70 years and in the absence of a private sector, people used to do anything to get a prestigious government job as it was considered a guarantee for a secure future.
For the first time in history of J-K, recruitments have been done on merit basis, in a transparent manner which is a living example of how corruption-free, transparent and just system contributes to the progress of the marginalized class and wherever wrongdoings were alleged, investigation was launched by credible and top law enforcement agencies, the administration said.
Even J&K's Lt Governor Manoj Sinha, last year, had said his focus is on providing job opportunities to 80 percent of the young population within the next five years.
Meanwhile, as per CMIE, India's national average was recorded at 6.4 percent where urban rate stood at 7.7 percent and rural rate was recorded at 5.9 percent.
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