New Delhi [India], July 26: The fourth report in the series of employment statistics by Central Statistics Office (CSO), citing Employees’ Provident Fund Organisation (EPFO) data, suggests that more than 44 lakh new jobs were added between September 2017 and May 2018.
As many as 7.43 lakh new payrolls were generated in the month of May itself, with the biggest contributor to the figure being the age bracket of 18-21 (more than 2.5 lakh new payrolls), followed by the age bracket of 22-25 (more than 1.9 lakh payrolls).
Earlier, the Ministry of Statistics and Programme Implementation in April released the first-ever employment related statistics in the formal sector, covering a period between September 2017 and February 2018. The figures are attained using information on the number of subscribers who have availed benefits under three major schemes — Employees’ Provident Fund (EPFO), Employees’ State Insurance Scheme (ESIC) and the National Pension Scheme (NPS).
This was the first time India introduced monthly payroll reporting for the formal sector to facilitate analysis of new and continuing employment.
The next report is due for release on August 24.