India Sees Job Losses as Curbs Return to Check New Virus Wave
(Bloomberg) -- A fresh round of provincial lockdowns to curb the record rise in virus infections is leading to job losses in India, according to the latest employment data by a private research firm.
Asia’s third-largest economy is potentially on track to regain the second spot from Brazil after adding a record 168,912 cases in a day, taking the tally to 13.53 million cases. It is facing an escalating health crisis with the second wave overwhelming hospitals and forcing states to restrict activities.
The pandemic had led to record job losses in India after a national lockdown last year saw millions of migrants heading back to their villages, many of them walking miles without proper food and water. Some of the jobs came back as the economy reopened and infections surprisingly started receding.
Prolonged and widespread night curfews could possibly lead to “another bout of reverse migration,” said Kunal Kundu, an economist with Societe Generale GSC Pvt. in Bengaluru. “Job creation will remain a challenge.”
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