EPFO Data Shows More Than 39 Lakh Jobs Created In 7 Months
The EPFO data reports that as many as 39.36 lakh new jobs were created during 7-month period ending March this year
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The job talk in the Indian economy just doesn’t die. There is a strict scrutiny on the job market, one which may help decide the upcoming general elections in 2019.
The Modi government has faced some backlash over the unemployed youth and failure to create the jobs promised. However, another EPFO data report on jobs might bring in some relief to the government and those employed as well.
The EPFO data reports that as many as 39.36 lakh new jobs were created during 7-month period ending March this year, as per EPFO's payroll data.
According to the latest data, as many as 6.13 lakh new jobs were created in the month of March this year, which is higher than 5.89 lakh payrolls with the Employment Provident Fund Organisation (EPFO) in February this year.
The data shows that the half of the payrolls were created in the expert service segment across all age brackets. The segments where job creation was substantial were electric, mechanical or general engineering products followed by building and construction industry, trading & commercial establishments and textiles.
The data clearly indicates that over half of the jobs created in organised sector in the country were in Maharashtra, Tamil Nadu and Gujarat during the seven-month period till March this year.
The first set of payroll data was released by the EPFO last month. Some of the experts had raised doubts over construing job creation from the statistics. They had said that this data does not reflect true job creation in the country as it includes job changes also by employees.
The EPFO has uploaded the data with disclaimers that the data for most recent months are provisional as updation of employees records is a continuous process and are likely to be updated in subsequent months and the estimates may include temporary employees whose contributions may not be continuous for the entire year.