COVID-19: Unemployment rate touches 26% amid Lockdown-2.0

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1. In the third week of April that ended on the 19th, labour market conditions worsened.

2. This was the fourth week of the lockdown. During the last week of March and in the first two weeks of April, the unemployment rate hovered around 23-24 per cent.

3. In the first week, it was 23.8 per cent; in the second week it dropped a bit to 23.4 per cent but in the third week it bounced back to 24 per cent.

4. The variations were minor and collectively they confirmed that the unemployment rate had indeed risen to around 24 per cent following the lockdown. 

5. Due to the current situation, the ratio of unemployment has been increasing rapidly week by week. Once the lockdown gets over, maybe the situation will be under the control of the government hence the unemployment rate would decrease leading to a rise in the number of opportunities for the labours or the workers. 

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