India's unemployment rate reaches 16-month high of 8.3% in December: CMIE

India's unemployment rate reached a 16-month high in December as it rose to 8.3% from 8% in November, according to data released by the Centre for Monitoring Indian Economy (CMIE). The urban unemployment rate rose to 10.09%, whereas rural unemployment rate slipped to 7.44% last month. Rise in unemployment rate "isn't as bad as it may seem", CMIE's MD said.