1.2 million new jobs created in June, fewer than May: ESIC payroll data

Around 12.19 lakh jobs were created in June, lower than 12.88 lakh added in the previous month, according to the latest payroll data from the Employees' State Insurance Corporation (ESIC).

Gross enrolments of new subscribers with the ESIC were 1.49 crore during 2018-19, a report released by National Statistical Office (NSO) stated.

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

The NSO 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 86.73 lakh.

It showed that a net of 12.36 lakh new enrolments with the Employees' Provident Fund Organisation (EPFO) were recorded in June, higher as compared with 8.56 lakh in May this year.

During 2018-19, 61.12 lakh new subscribers on a net basis joined the social security schemes run by the EPFO. Similarly, the net new enrolments were 15.52 lakh during September 2017 to March 2018.

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