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<keyword id="82333" type="LOCATION" weightage="20" keywordseo="Ottawa">Ottawa</keyword>, Amid the raging second wave of the Covid-19 pandemic, the <keyword id="93845" type="PERSON" weightage="20" keywordseo="unemployment-rate">unemployment rate</keyword> in <keyword id="6356687" type="LOCATION" weightage="20" keywordseo="canada">Canada</keyword> rose by 0.6 percentage point to 9.4 per cent in January, the highest rate since August 2020, according to the <keyword id="7734679" type="COMPANY" weightage="20" keywordseo="National-Statistical-Office">national statistical office</keyword>. On Friday, <keyword id="334589" type="COMPANY" weightage="20" keywordseo="Statistics-Canada">Statistics Canada</keyword> said that <keyword id="6355127" type="UNKNOWN" weightage="20" keywordseo="employment">employment</keyword> decreased by 213,000, or 1.2 per cent, in January as lockdowns and restrictions caused the closure of many businesses across the country, reports Xinhua news agency. The decrease marked a second straight month that the labour market contracted after 63,000 positions disappeared in December 2020 to break a streak of monthly gains that began in May 2020. It was heavy in the services sector and part-time work fuelling the largest monthly decline since last April when some 2 million jobs were lost. Compared with February 2020, employment was down 858,000, or 4.5 per cent, in January and Covid-related absences from work were up 529,000. Among Canadians who worked at least half their usual hours, the number working from home increased by nearly 700,000 to 5.4 million in January, surpassing the previous high of 5.1 million last April. January's employment figures show the "continuing challenge of balancing economic activity with the need to protect public health", and how restrictions hit specific sectors and groups of workers harder than others, the national statistical office added. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/heres-why-you-arent-being-able-to-apply-for-brookfield-reit-ipo-through-zerodha-groww-angel-broking-and-other-stockbroking-apps/articleshow/80686457.cms">Groww and other stockbroking apps</a> <a href="https://www.businessinsider.in/stock-market/news/analysts-explain-why-indigo-paints-shares-fell-with-a-thud-just-like-burger-king-and-mrs-bectors-and-what-to-do-with-it-now/articleshow/80704864.cms">Indigo Paints joins the league of Burger King and Bector's — frenzied IPOs that fizzled out</a> <a href="https://www.businessinsider.in/tech/news/the-india-stack-that-bill-gates-and-sundar-pichai-so-love-is-set-to-get-much-bigger-thanks-to-the-indian-governments-new-blockchain-strategy/articleshow/80718403.cms">The India stack that Bill Gates and Sundar Pichai so love is set to get much bigger – thanks to the Indian government’s new blockchain strategy</a>

Unemployment rate in Canada rose by 0.6 % to 9.4% in January

<keyword id="19896016" type="General" weightage="20" keywordseo="new-delhi" source="keywords">New Delhi</keyword>, <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s industrial production grew 3.8 per cent in January 2024, according to official data released on Tuesday. <keyword id="6428111" type="General" weightage="20" keywordseo="Factory-output" source="Orion">Factory output</keyword> measured in terms of the Index of Industrial Production (IIP) witnessed a growth of 5.8 per cent in January 2023. "India's Index of Industrial Production grows by 3.8 per cent in January 2024," an official statement said. The data released by the <keyword id="20070866" type="General" weightage="20" keywordseo="national-statistical-office" source="keywords">National Statistical Office</keyword> (<keyword id="20067517" type="General" weightage="20" keywordseo="nso" source="keywords">NSO</keyword>) showed that the manufacturing sector's output grew 3.2 per cent in January 2024, down from 4.5 per cent in the year-ago month. In January this year, mining production rose 5.9 per cent, and power output increased 5.6 per cent. The IIP grew 5.9 per cent during April 2023 to January 2024 compared to a 5.5 per cent expansion in the year-ago period.

India's industrial production grows 3.8% in January

<keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword>'s industrial production rose by 13.6 per cent in June, official data released on Thursday showed. According to the Index of Industrial Production (<keyword id="6427912" type="UNKNOWN" weightage="20" keywordseo="iip">IIP</keyword>) data released by the <keyword id="7734679" type="UNKNOWN" weightage="20" keywordseo="National-Statistical-Office">National Statistical Office</keyword> (<keyword id="2501810" type="ORGANIZATION" weightage="20" keywordseo="NSO">NSO</keyword>), the manufacturing sector's output surged by 13 per cent in June 2021. The mining output climbed 23.1 per cent and power generation increased by 8.3 per cent in June. The IIP had contracted 16.6 per cent in June 2020. During April-June this year, the IIP grew by 45 per cent against a contraction of 35.6 per cent in the same quarter last year. Industrial production has been hit due to the coronavirus pandemic since March last year when it had contracted 18.7 per cent. It shrank 57.3 per cent in April 2020 due to a decline in economic activities in the wake of the lockdown to curb the spread of coronavirus infections. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/vip-industries-wakes-up-from-a-long-slumber-to-reach-an-18-month-high/articleshow/85269746.cms">VIP Industries wakes up from a long slumber to reach an 18-month high</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/simple-energy-launching-one-electric-scooter-on-august-15-check-out-booking-price-battery-specification/articleshow/85268668.cms">Simple One electric scooter pre-bookings begin August 15 – check out the booking price, battery specs and more</a>

India's manufacturing sector grows by 13% in June, according to NSO data

<keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>'s <keyword id="35052" type="General" weightage="20" keywordseo="Industrial-production" source="Orion">industrial production</keyword> rose 3.2 per cent in October, according to official data released on Friday. As per the <keyword id="124816" type="General" weightage="20" keywordseo="Index-of-Industrial-Production" source="Orion">Index of Industrial Production</keyword> (IIP) data by the <keyword id="7734679" type="General" weightage="20" keywordseo="national-statistical-office" source="Orion">National Statistical Office</keyword> (NSO), the manufacturing sector's output grew 2 per cent in October 2021. In October, the mining output climbed 11.4 per cent, and power generation increased 3.1 per cent. The IIP had grown by 4.5 per cent in October 2020. During April-October this year, the IIP grew 20 per cent against a 17.3 per cent contraction in the same period last year. Industrial production has been hit due to the <keyword id="1754604" type="General" weightage="20" keywordseo="coronavirus" source="Orion">coronavirus</keyword> pandemic since March last year when it had contracted 18.7 per cent. It shrank 57.3 per cent in April 2020 due to a decline in economic activities in the wake of the lockdown imposed to curb the spread of coronavirus infections. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/indias-first-uncrewed-space-mission-scheduled-for-launch-in-2022-chandrayaan-3-moon-mission-in-advanced-stages-of-realisation/articleshow/88208205.cms">India's first uncrewed space mission scheduled for launch in 2022; Chandrayaan-3 moon mission in advanced stages of realisation</a>

India's industrial production grows 3.2% in October

Indias urban unemployment rate improved remarkably in the April-June quarter, revealed the <keyword id="7734679" type="General" weightage="50" keywordseo="national-statistical-office" source="Orion">National Statistical Office</keyword>. It dipped to 7.6 per cent during the April-June quarter from 12.6 per cent during the corresponding quarter a year ago. It is a clear indication that the country's economy is coming out the grip of Covid-induced slowdown. India's urban unemployment rate improved across genders and age groups to its best-ever level in the quarter ending June 2022.India's headline urban unemployment rate was 7.6 per cent in the quarter ending June, compared to 8.2 per cent in the quarter ending March, 12.7 per cent in the June quarter of 2021-22, and 8.9 per cent in the June quarter of 2019-20. Joblessness was high in April-June 2021 mainly due to the staggering impact of Covid-related restrictions in the country. The 15th <keyword id="3429286" type="General" weightage="50" keywordseo="periodic-labour-force-survey" source="Orion">Periodic Labour Force Survey</keyword> (<keyword id="1697741" type="General" weightage="80" keywordseo="plfs" source="Orion">PLFS</keyword>) showed that the unemployment rate among females (aged 15 years and above) in urban areas declined to 9.5 per cent in April-June, 2022 from 14.3 per cent a year ago. It was 10.1 per cent in January-March, 2022.Among males, the unemployment rate in urban areas dipped to 7.1 per cent in April-June 2022 compared to 12.2 per cent a year ago. It was 7.7 per cent in January-March 2022. Since some kinds of jobs, like those in agriculture, are seasonal in nature, unemployment rate comparisons are best made for the same quarter across years. However, the remarkable improvement in this rate can be seen from the fact that it is the lowest rate since the quarter ending June 2018, the first quarter for which the quarterly bulletins have data, revealed media reports. That the improvement in unemployment rate was not lopsided can be seen from the fact that it improved across groups. The quarterly bulletin gives a breakup of unemployment rate by gender and by three age groups: all ages, 15-29 years, and 15 years and above. Unemployment rates for all these groups was the best in the quarter ending June, media reports said. Similarly, at 37.2 per cent, the labour force participation rate (<keyword id="4279410" type="General" weightage="80" keywordseo="lfpr" source="Orion">LFPR</keyword>) - or the share of population working or seeking work - in the first quarter of the current financial year was the highest for this quarter for any year since 2018-19 and 10 basis points (100th of a percentage point) higher than in the first quarter of last year. While LFPR was not at its best level in the quarterly bulletin's history like the unemployment rate, it is enough for it to be best for the June quarter because of the seasonality factor. The broad industry-wise breakup of workers further showed that employment prospects also improved. The share of workers in agriculture, secondary sector (which includes sectors like manufacturing and mining), and tertiary sector (comprises services) was 5.7 per cent, 34 per cent and 60.3 per cent, respectively. The share in agriculture is an improvement over the June quarters of FY 2021-22 and FY 2020-21, both affected by lockdowns, but not over FY 2019-20, when only 4.9 per cent were in agriculture. The share in tertiary sector was similarly a higher 62 per cent in FY 2019-20, a clear sign that though people are seeking and finding jobs with the pandemic under control, they may not be earning as much as they did before the pandemic. These signs will be confirmed or rejected when the unit-level data becomes available, the report stated. Labour force refers to the part of the population which supplies or offers to supply labour for pursuing economic activities for the production of goods and services and, therefore, includes both employed and unemployed persons. The NSO launched PLFS in April 2017. On the basis of PLFS, a quarterly bulletin is brought out giving estimates of labour force indicators namely unemployment rate, worker population ratio (<keyword id="1966243" type="General" weightage="50" keywordseo="wpr" source="Orion">WPR</keyword>), labour force participation rate (LFPR), distribution of workers by broad status in employment and industry of work in Current Weekly Status. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/gromo-raises-11-million-plans-to-double-headcount-in-6-12-months/articleshow/94031705.cms">GroMo raises $11 million, plans to double headcount in 6-12 months</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/dreamfolks-services-beats-grey-market-expectations-lists-at-a-55-premium/articleshow/94017839.cms">DreamFolks Services stock slips 8% from its listing price</a>

India's urban unemployment rate dips to 7.6% in the April-June quarter

<keyword id="513422" type="General" weightage="20" keywordseo="Retail-inflation" source="Orion">Retail inflation</keyword> rose marginally to 4.91 per cent in November, mainly due to an uptick in food prices, government data showed on Monday. The <keyword id="134096" type="General" weightage="20" keywordseo="Consumer-Price-Index" source="Orion">Consumer Price Index</keyword> (<keyword id="6355865" type="General" weightage="20" keywordseo="CPI" source="Orion">CPI</keyword>) based retail inflation was 4.48 per cent in October 2021 and 6.93 per cent in November 2020. As per the data released by the <keyword id="7734679" type="General" weightage="20" keywordseo="National-Statistical-Office" source="Orion">National Statistical Office</keyword> (NSO), food inflation was at 1.87 per cent in November this year compared to 0.85 per cent in the preceding month. The <keyword id="50847" type="General" weightage="20" keywordseo="reserve-bank" source="Orion">Reserve Bank</keyword>, which mainly factors in the retail inflation while arriving at its bi-monthly monetary policy, expects the inflation print to be somewhat higher over the rest of the year as base effects turn adverse. According to the RBI, it is expected that headline inflation will peak in the fourth quarter of the current fiscal and soften thereafter. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/uk-sees-first-death-due-to-omicron-variant-says-prime-minister-boris-johnson/articleshow/88259404.cms">UK sees first death due to Omicron variant, says Prime Minister Boris Johnson</a>

Retail inflation inches up to 4.91% in November

<keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>'s industrial production rose 2.4 per cent in July, according to the official data released on Monday. The IIP had grown 11.5 per cent in July 2021. As per the Index of Industrial Production (IIP) data released by the <keyword id="7734679" type="General" weightage="80" keywordseo="national-statistical-office" source="Orion">National Statistical Office</keyword> (<keyword id="2501810" type="General" weightage="80" keywordseo="nso" source="Orion">NSO</keyword>), the manufacturing sector's output grew 3.2 per cent in July 2022. The mining output contracted 3.3 per cent while power generation increased 2.3 per cent during the same period. In April 2020, industrial production had contracted 57.3 per cent due to a decline in economic activities in the wake of the lockdown imposed to curb the spread of coronavirus infections. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/education/news/melbourne-university-madras-university-sign-mou-for-research-and-teaching-programmes/articleshow/94156218.cms">Melbourne University, Madras University sign MoU for research and teaching programmes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/cheetah-reintroduction-all-but-one-village-in-kuno-national-park-resettled-say-officials/articleshow/94155743.cms">Cheetah reintroduction: All but one village in Kuno national park resettled, say officials</a>

Industrial production grows 2.4 pc in July

New Delhi [India], March 12 (ANI): The latest data released by the <keyword id="20070866" type="General" weightage="20" keywordseo="national-statistical-office" source="keywords">National Statistical Office</keyword> (<keyword id="20067517" type="General" weightage="20" keywordseo="nso" source="keywords">NSO</keyword>), under the Ministry of Statistics and Programme Implementation (MoSPI), indicates a slight easing in retail inflation for the month of February 2024. According to the provisional figures provided by the NSO, the retail inflation, based on the Consumer Price Index (General), stood at 5.09 per cent in February 2024. This marks a marginal decrease from 5.10 per cent recorded in January 2024. The combined inflation rate for rural and urban areas came down to 5.09 per cent from the previous month's 5.10 per cent. The data further reveals that the <keyword id="20931744" type="General" weightage="20" keywordseo="consumer-food-price" source="keywords">Consumer Food Price</keyword> Index (<keyword id="20931745" type="General" weightage="20" keywordseo="cfpi" source="keywords">CFPI</keyword>) witnessed a similar trend, with a slight decrease from 8.30 per cent in January 2024 to 8.21 per cent in February 2024. Both rural and urban areas experienced a dip in food inflation, indicating a marginal relief for consumers across the board. The monthly changes in the General Indices and CFPIs show a negligible increase of 0.16 per cent in the combined CPI (General) and 0.11 per cent in the CFPI from January 2024 to February 2024. This indicates a relatively stable price movement in essential goods and services during the said period. The NSO collects price data from a vast sample size, covering both rural and urban markets across all states and union territories. During February 2024, data was collected from 100 per cent of villages and 98.5 per cent of urban markets. The comprehensive coverage ensures that the inflation figures are representative of the diverse consumption patterns across the country. In terms of the subgroup analysis, notable trends were observed in various categories. Cereals and products, meat and fish, and egg prices showed moderate increases, contributing to the overall inflation rate. On the other hand, certain items like oils and fats experienced a decline in prices, exerting downward pressure on inflation. The NSO has also provided state-wise inflation data, highlighting the varying price dynamics across different regions. States like <keyword id="19896313" type="General" weightage="20" keywordseo="andhra-pradesh" source="keywords">Andhra Pradesh</keyword>, Telangana, and <keyword id="19896558" type="General" weightage="20" keywordseo="tamil-nadu" source="keywords">Tamil Nadu</keyword> recorded relatively higher inflation rates, while states like Delhi and Maharashtra witnessed a more subdued inflationary environment. Looking ahead, the NSO has announced that the next release of CPI data for March 2024 is scheduled for April 12, 2024. This continued transparency in reporting inflation figures enables policymakers and stakeholders to make informed decisions regarding monetary and fiscal policies. (ANI)

Retail inflation eases to 5.09% in February 2024

Rising prices of essential kitchen items pushed the <keyword id="513422" type="General" weightage="20" keywordseo="Retail-inflation" source="Orion">retail inflation</keyword> to a six-month high of 5.59 per cent in December, close to the Reserve Bank's upper tolerance limit of 6 per cent. The <keyword id="134096" type="General" weightage="20" keywordseo="Consumer-Price-Index" source="Orion">Consumer Price Index</keyword> (CPI) based retail inflation was 4.91 per cent in November 2021 and 4.59 per cent in December 2020. The RBI, which mainly factors in the CPI-based retail inflation while arriving at its bi-monthly monetary policy, has been tasked by the government to keep the inflation at 4 per cent with margin of 2 per cent on either side (that is, in the range of 2-6 per cent). Retail inflation has been rising since October 2021. In July too the rate of price rise was 5.59 per cent but it slowed in the subsequent two months, before starting to move up from October. As per the data released by the <keyword id="7734679" type="General" weightage="20" keywordseo="National-Statistical-Office" source="Orion">National Statistical Office</keyword> (NSO) on Wednesday, food inflation was at 4.05 per cent in December this fiscal compared to 1.87 per cent in the preceding month. In the food basket, inflation was on higher side in 'cereals and products', eggs, 'milk and products', spices, and 'prepared meals, snacks and sweets' segments in December over the preceding month. However, the rate of price rise was slower in case of vegetables, fruits, and 'oil and fats'. In the 'fuel and light' category, though the inflation softened from a month ago, it remained elevated at 10.95 per cent during the month. It was 13.35 per cent in November 2021. The Reserve Bank expects the inflation print to be somewhat higher over the rest of the year as base effects turn adverse. According to the RBI, it is expected that headline inflation will peak in the fourth quarter of the current fiscal and soften thereafter. Aditi Nayar, chief economist at Icra, said the increase in CPI inflation in December 2021 relative to the previous month was primarily led by food and beverages, and clothing and footwear. There was a welcome moderation in the prints for fuel and light, and pan, tobacco etc amidst a mild dip in miscellaneous items and housing, she added. "Overall, we expect the headline CPI inflation to range between 5.7 - 6 per cent in Q4 FY2022, as compared to the MPC's (<keyword id="6375120" type="General" weightage="20" keywordseo="monetary-policy-committee" source="Orion">Monetary Policy Committee</keyword>) forecast of 5.7 per cent. "While the CPI inflation has hardened sharply between November and December 2021, the uncertainty triggered by the third wave is sure to take precedence when the MPC meets next month. We now see a negligible likelihood of a change in stance or reverse repo hike in the February 2022 policy review," Nayar said. With a higher inflation target, the MPC can choose to prioritise growth revival for much longer than other major central banks, for many of whom inflation control has become a pressing policy focus, she noted. The RBI's next monetary policy meeting will be held in February. "Food inflation is expected to increase further due to supply bottlenecks and adverse weather conditions. "Although there has been a 68 basis points increase in the inflation rate in December over the previous month, the average inflation for Q3 remained below the RBI's estimates of 5.3 per cent," said M Govinda Rao, Chief Economic Adviser at Brickwork Ratings. The CPI has now remained within the tolerance level for the sixth month in a row with 5.59 per cent this December, D R E Reddy, CEO and Managing Partner at CRCL LLP said. "Inflationary pressures on food are projected to remain low for the foreseeable future. Household income has also increased, indicating a boost in discretionary income in the hands of the average person. Overall, these figures show that the economy is rapidly rebounding from the pandemic's devastation," Reddy said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/icmr-experts-reject-inclusion-of-molnupiravir-in-covid-19-treatment-guidelines-for-fourth-time-citing-safety-concerns/articleshow/88867442.cms">ICMR experts reject inclusion of Molnupiravir in COVID-19 treatment guidelines for fourth time citing safety concerns</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/scientist-s-somanath-to-take-over-as-new-isro-chairman/articleshow/88867399.cms">Scientist S. Somanath to take over as new ISRO chairman</a>

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Unemployment rate in Canada rose by 0.6 % to 9.4% in January

IANS