India sees over 800,000 employed in formal work in January
India has seen some 820,336 newly employed people join formal work in January, according to payroll data released by the Employees Provident Fund Organisation (EPFO).
Of the new EPF additions in January, 441,982 were in the 18-25 age group. In December, however, there were at least 469, 927 new subscribers from this age group.
Overall, January’s figures showed a loss of almost 27,000 workers from December’s new subscriber total of 847,132. In November, new EPF subscribers totalled 699,894.
The payroll data also showed that January’s fall in new subscribers stemmed largely from the category of workers aged 18-25, signifying a stagnation in the labour market, reports Mint news.
Official data further showed that the net payroll additions – which takes into account the new additions, number of exits, and the return of old subscribers – hit 1.11 million in January, as compared to 1.05 million in December.
EPFO has been publishing payroll data since April 2018. The figures published are provisional and will be updated periodically.