Early estimates of jobs data indicate that the coronavirus effect may have left a devastating impact on the economy, sending urban unemployment rate soaring to 30.9% . Overall unemployment rose to 23.4%.

The figures, based on the Centre for Monitoring Indian Economy’s weekly tracker survey, have held steady for two weeks now. The latest data for the week ended 5 April was released on Monday evening. CMIE’s estimates on unemployment shot up from 8.4% in mid-March to the current 23%.

Based on a rough calculation, about 50 million people might have lost jobs in just two weeks of the lockdown, said Pronab Sen, a former chief statistician of India.

“Since some may have just been sent home for now, the actual scope of unemployment may be even higher and may show up a little later," he added.