Home Government and Policy A record 9.5 Lakh jobs were created in July, 61.81 lakh since September 2017: EPFO data

A record 9.5 Lakh jobs were created in July, 61.81 lakh since September 2017: EPFO data

The present government’s initiatives to create jobs seems to have yielded results, as the new payroll data by the Employees Provident Fund Organisation (EPFO) reveals that more than 9.5lakh jobs have been created in the formal sector in the month of July alone.

The new data released by the EPFO on its website on Thursday says that 9,51,423 jobs were created in the month of July and it is the highest growth of employment generation in any month since September last year. The data said that the total count of new enrolments has reached 61.81 lakh since September 2017.

According to the reports, the new set of data released by the EPFO has been calculated with the help of enrolment data of new members in various social security schemes of EPFO such as pension, provident fund and insurance.

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The EPFO has put up revised data of new enrolments from September 2017 to June 2018, as 52.30 lakh jobs were created from 47.13 lakhs as estimated earlier, a rise in almost 5.1 lakh jobs. The EPFO has also released revised month-wise job creation from September 2017 and data of every month has seen an upward revision except for September 2017, which has shown a slight downward revision.

 

Source: Hindu Business Line

 

The new payroll data states that the maximum number of enrolment of 2,68,021 were recorded in the age bracket of 18 to 21 years followed by 2,54,827 in 22 to 25 age group.

The data also explains the nature of jobs created and also state-wise numbers on the job creation. According to reports, the Export sector has employed more people of the age between 22-25, while Electrical and Mechanical Engineering products occupy the further positions. Maharastra stands at the top in job creation for the people of same age bracket, while  Karnataka and Tamil Nadu stand second and third respectively.

The EPFO, under the Ministry of Statistics & Programme Implementation (MOSPI), releases employment-related statistics in using data on the number of beneficiaries enrolled under schemes like EPFO, ESIC and NPS. The data is provisional and subjected to periodic revision as updating of employees records is a continuous process and gets updated in subsequent months.

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