Centre for Monitoring Indian Economy on Tuesday said 27 million youth in the age group of 20-30 years lost their jobs in April 2020 following a nationwide lockdown to prevent the spread of Covid-19.
According to the CMIE weekly report, the unemployment rate fell from 27.1%to 24% for the week ended May 10 while the labour participation rate rose from 36.2% to 37.6% as the government opens up industries in a staggered manner. Employment rate also rose from 26.4%to 28.6%.
Data from CMIE’s Consumer Pyramids Household Survey shows youngsters in the age group 20-24 years accounted for 11% of those who lost jobs while they constituted 8.5% to the total employed persons in the country in 2019-20.
“34.2 million of these young men and women were working in 2019-20. In April 2020 their numbers were down to 20.9 million,” it said.
