Job creation down 1.7% in Feb to 1.50 mn, shows employee state payroll data

Job creation dropped by 1.73 per cent in February to 1.50 million compared to 1.53 million in the same month last year, according to the latest payroll data of the Employees State Insurance Corporation (ESIC).

The data showed that during September 2017 to February 2019, nearly 30 million new subscribers joined the ESIC scheme.

The ESIC has been releasing payroll data from April 2018, covering the period starting September 2017.

The ESIC provides health insurance and medical services to insured persons covering all those establishments which have 20 or more workers and all those employees whose monthly wages are up to Rs 21,000.

According to the data, the gross new subscribers addition remained the highest at 1.98 million in July 2018.

The data showed that 234,000 women subscribers joined the ESIC scheme in February 2019 while around 1 men enrolled under the scheme.

The number of subscribers of Employees State Insurance (ESI) scheme also gives an idea of the level of employment in the formal sector.

However, contrary the ESIC data, the retirement fund body EPFO's latest payroll data showed that net employment generation in the formal sector almost trebled to 861,000 in February compared to 287,000 in the same month of last year.

The Employees' Provident Fund Organisation has also been releasing payroll data from April 2018, covering the period starting September 2017.

According to the latest data, the highest job creation was recorded in January 2019 at 894,000 against the provisional estimate of 8.96 lakh released last month.

During February 2019, the highest number of 236,000 jobs were created in the 22-25 years age group, followed by 209,000 in the 18-21 years age bracket.

The data showed that 8.08 million new jobs were created in the 18 months period from September 2017 to February 2019.