Corona Impact: In April-May, 2.7 crore people lost jobs out of 40 crore, claims CMIE

New Delhi: The second wave of corona infection has wreaked havoc in India. Mahesh Vyas, MD and CEO of Center for Monitoring Indian Economy has told that in the months of April and May, 2.7 crore people have lost their jobs. According to the report, the unemployment rate stood at 12 percent in May, while it was 8 percent in April.

CMIE CEO Mahesh Vyas said, “We lost 2.7 crore jobs in April and May during the second wave. The total number of jobs in the country is around 400 million. Out of these 400 million people, 2.7 crore people lost their jobs in the last 2 months. Lost job.”

According to CMIE, there is improvement in the unorganized sector but it will take more time for the organized sector or formal sector to get back on track. In such a situation, people who lost their jobs are finding it difficult to find a new job.

Exports rose to $32.21 billion in May
Exports during April-May this year increased to $62.84 billion, from $29.6 billion in the same period last year and $55.88 billion in April-May 2019. According to data released by the government on Wednesday, India’s exports grew by 67.39 percent to USD 32.21 billion in May. During this period, exports of engineering, pharmaceuticals, petroleum products and chemicals saw a particularly rapid growth.

Exports in May last year were US$ 19.24 billion and in May 2019 it was US$ 29.85 billion. According to the statement, imports increased by 68.54 percent to $ 38.53 billion in May 2021, from $ 22.86 billion in May 2020 and $ 46.68 billion in May 2019.

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