Unemployment Rate Increases, Imports Register Higher Growth Rate Than Exports
The Wire Staff
New Delhi: The unemployment rate in the country increased to 5.6% in May this year as compared to the previous month, revealed data released by the government on Monday (June 16).
The latest data collected in the current weekly status (CWS) indicated that the unemployment rate (UR) for persons of all ages during May 2025 rose to 5.6% from 5.1% in April 2025, reported Press Trust of India.
According to the data, the pace of joblessness among females was higher at 5.8% compared to 5.6% in males in May 2025. Similarly, unemployment among people in the age group of 15-29 increased to 15% in May from 13.8% in April 2025 across the country.
Unemployment in urban also increased to 17.9% in May from 17.2% in April. In rural areas, the figure stood at 13.7% in May, an increase from 12.3% in April this year.
The data further indicated that the Labour Force Participation Rate (LFPR) among people aged 15 years and above dipped to 54.8% in May 55.6% during April 2025.
Goods exports contract by 2.17%, China top import source
In May, India’s goods exports also contracted 2.17% (year-on-year) to $38.73 billion. Sectors including petroleum products, gems & jewellery and engineering posted a decline, reported The Hindu Business Line.
In the same month, the US was the top export destination for India and China its top import source. Imports from China increased by 21.61 per cent to $10.31 billion.
The growth rate of imports during April-May was greater than the growth rate of exports. While exports increased 3.11 per cent to $77.19 billion, during the same period, imports grew 8 per cent to $125.52 billion.
Meanwhile, the Society of Indian Automobile Manufacturers said on Monday (June 16) that domestic passenger vehicle wholesales came down by 0.8 per cent at 3,44,656 units in May this year when compared to 347,492 units in the same month last year, reported Press Trust of India.
SIAM added that in the passenger vehicle (PV) category, market leader Maruti Suzuki India's domestic sales came down at 1,35,962 units last month as compared to 1,44,002 units in May 2024.
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