Declining unemployment rate sign that economy is turning around
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The unemployment rate in India fell this week from 13.6% a week ago to 8.7% this week. According to data from the private research firm Centre for Monitoring Indian Economy, urban unemployment in the country declined to 9.7% from 14.4%, while rural unemployment declined to 8.2% from 13.3%. The unemployment rate came down significantly as several states lifted the lockdown restrictions after the coronavirus crisis.