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Job Creation Boom In India? Over 19 Lakh New Employees Added To Payrolls In November 2019, Says ESIC Data
An Indian employee works at the Panasonic ‘eco ideas’ factory at Jhajjar in Haryana.(Photo credit: SAJJAD HUSSAIN/AFP/Getty Images)
A whopping 19.6 lakh new employees were added to the payroll of Indian companies as per the Employees’ State Insurance Corporation (ESIC) data, Economic Times has reported.
This data is said to portray the fact that the economy in the country is picking up. The net employee additions in November after subtracting the employees who were removed from the payrolls that month, stand at 6.97 lakh.
Demography wise 5.28 lakh new ESIC additions happened in the 22-25 year age bracket and 4.68 lakh additions were made in the 18-21 age bracket.
This is the highest monthly figure in FY20. A total of 2.87 crore employees received ESIC contributions from their employer.
The highest ESIC addition was recorded in July 2019 when 19.86 lakh employees were added to the pay roll. The net addition though stood at 2.86 lakh when 17 lakh employees were removed from the ESIC list.
GST figures too grew by 6 per cent in November to stand at Rs 1.03 lakh crore. The aforementioned data is said to
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