1.89 Crore salaried Indians have lost their employment since April, around 50 lakh just in July, says CMIE - Insiderfolks

Centre for Monitoring Indian Economy (CMIE) study on the decline of 50 lakh workers in July 2020 – Corona’s outbreak has raised unemployment, with 1.89 crore people losing work between April and July.

1.89 Crore salaried Indians have lost their employment since April, around 50 lakh just in July, says CMIE – Insiderfolks, The number of salaried losing their employment during the coronavirus pandemic has risen to 1.89 crores since April, with some 50 lakh jobs lost last month, according to data from the Indian Economic Monitoring Center (CMIE).

1.89 Crore salaried Indians have lost their employment since April, around 50 lakh just in July, says CMIE - Insiderfolks
image source from: https://newsbust.in/cmie-report-on-loss-of-50-lakh-jobs-in-july-2020-corona-epidemic-increased-unemployment-1-89-crore-people-lost-jobs-from-april-to-july-cmie-report/

The loss of around 50 lakh workers in July falls from about 39 lakh jobs in June, according to results. In April, 1,77 crore salaried jobs were lost, accompanied by 1 lakh employment losses of salaried workers in May.

“Although salaried jobs are not easily lost, once lost, they are often much more difficult to recover. Thus, their balloon numbers are a matter of concern,” said Mahesh Vyas, CEO of the center.

“Salaried jobs were almost 19 million (190 lakh) short of their peak in 2019-20, 22 percent lower than their amount in the last fiscal year,” he said.

The latest CMIE data also shows that about 68 lakh daily wage earners had lost their employment during this time. However, during this time, around 1,49 crore people have taken to farming.

Since the lockdown was announced, a range of businesses across industries has embarked on work cuts, along with wage reductions and leave without pay.

Industry groups and a number of analysts have called for federal assistance to industry in order to prevent major employment cuts and for businesses to withstand the threat of the pandemic.

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