Job creation slows down to 1.3 mn in August from 1.44 mn in July: ESIC data

Around 1.3 million jobs were created in August, lower than 1.44 million in the previous month (July), according to the payroll data of Employees' State Insurance Corporation (ESIC).

Gross enrolments of new subscribers with the ESIC were 14.9 million during 2018-19, the National Statistical Office (NSO) said in a report.

It also showed that during September 2017 to August 2019, around 29.7 million new subscribers joined the ESIC scheme.

The NSO report is based on the payroll data of new subscribers of various social security schemes run by the ESIC, retirement fund body EPFO and the Pension Fund Regulatory and Development Authority (PFRDA).

It has been releasing the payroll data or new subscribers data of these three bodies since April 2018, covering a period starting from September 2017.

The report showed that gross new enrolments with the ESIC during September 2017 to March 2018 were 8.33 million.

A net of 1.8 million new enrolments with the Employees' Provident Fund Organisation (EPFO) were recorded in August, as compared to 1.17 million in July this year.

During 2018-19, 6.11 million new subscribers on a net basis joined the social security schemes run by the EPFO. Similarly, the net new enrolments were 1.55 million during September 2017 to March 2018.

It showed that during September 2017 to August 2019; around 27.5 million new subscribers joined the EPF scheme.

The report said that since the number of subscribers are from various sources, there are elements of overlap and the estimates are not additive.

The NSO said the present report gives different perspectives on the levels of employment in the formal sector and does not measure employment at a holistic level.