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Jammu and Kashmir witnesses decline in unemployment rate

Last Updated on January 5, 2022 at 4:35 pm

The unemployment rate in December for Jammu and Kashmir has declined to 15 percent. As per the data revealed by Centre for Monitoring Indian Economy (CMIE) states that unemployment rate in December has declined to 15 percent from the unemployment rate in J&K in month of November which was recorded at 21.2 percent.

The unemployment rate in J&K has dropped by six percent which is a positive sign.

Moreover, in the month of October, unemployment rate was recorded as 22.2 percent and in month of September it was 21.4 percent.

As per officials, the increase in tourist footfall leading to improved productivity of tourism sector helped in decreasing the unemployment rate. As well as due to Covid-19 pandemic and lockdown has declined and affected the economy to a large scale but after that the improvements began and recruitment drives were intensified, as reported in The Kashmir Monitor.

Officials further said that last three months were a boon for tourism industry as these months witnessed a major tourist influx and lead to fully occupied hotels and added that tourism stakeholders such as travel agencies, houseboat, hotels among many others which had laid off their staff during Covid-19 pandemic brought them back.

It is pertinent to mention that according to the Department of Labour and Employment around 770319 qualified youth graduates and postgraduates are registered with employment exchanges in the valley.

J&K’s unemployment rate is lower than many states including Rajasthan (27.1%), Haryana (34.1), and Jharkhand (17.3%).