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Mythbuster: Formal Jobs Up By 48 Per Cent In November 2018, Over 73.50 Lakh New Additions In 15 Months
Representative image. (Priyanka Parashar/Mint via Getty Images)
Busting conventional views and beliefs, it appears that the formal job count in India is witnessing a solid rise. According to latest Employees' Provident Fund Organisation (EPFO) data, new formal sector jobs grew by 48 per cent to 7.32 lakh in November 2018, reports Press Trust of India (PTI).
In comparison, 4.93 lakh new jobs were created in November 2017. The EPFO payroll data also states that 73.50 lakh new jobs (new subscribers) were generated in the 15 months between September 2017 and November 2018.
Indicating a larger trend towards greater employment opportunities for the youth in the country, the November data showed that the maximum number of jobs were created in the 18-21 year age group at around 2.18 lakh. This was followed by the 22-25 years age bracket, with 2.03 lakh additions.
However, the social security organisation revised its payroll data downwards for October 2018 to 6.66 lakh against the earlier estimate of 8.27 lakh. The same reduction was witnessed in the period between September 2017 and October 2018.
Jobs For Everyone
NDA government’s flagship employment scheme, Pradhan Mantri Rozgar Protsahan Yojana (PMRPY) crossed the significant milestone of one crore beneficiaries on 14 January 2019.
Launched by Prime Minister Narendra Modi on 7 August 2016, PMRPY encourages employers to hire more people and promote employment in the country.
While only 33,031 beneficiaries were enrolled under the scheme in 2016-17, the number rose to 30,27,612 in 2017-18. The number of recipients more than doubled to 69,49,436 in just 10 months during 2018-19. As many as 1.24 lakh establishments across the country have benefited from the scheme till date.
Also Read: Jobs In Age Of The ‘Prosumer’
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