LOCK DOWN: Unemployment rate remains high at 24.3%

The week ended May 24 recorded an unemployment rate of 24.3 per cent. This is a shade higher than the 24.0 per cent unemployment rate recorded in the preceding week. It is also a tad higher than the average unemployment rate of 24.2 per cent seen in the past eight weeks — those of the lockdown.

The unemployment rate therefore continues to remain very high at over 24 per cent during the lockdown. The labour participation rate (LPR) was 38.7 per cent in the week ended May 24.