The Centre for Monitoring Indian Economy data on unemployment is out. And it& #39;s not good.
The rate of unemployment is now higher than 23%. Look at the jump.

The urban rate of unemployment is close to 31%. This means nearly one in three people who are a part of the labour force in urban India are currently without a job.

The rural rate of unemployment is slightly over 20%. This means nearly one in five people who are a part of the labour force in rural India are without a job.

If all this wasn& #39;t enough, the labour force participation rate has collapsed to 36.1% from 42.6% earlier. This basically means that fewer people are looking for jobs. And among those fewer people a greater proportion is now unemployed.

These numbers are very very scary...

It makes me wonder how are economists still predicting a rate of growth of greater than 4%... like nothing has happened at all...