Number of formal jobs rose 35% in first half of FY23, says report

A higher number of jobs were created in the second quarter of FY23, as compared to the first quarter: EPFO data

Nealy 87,10,000 formal jobs were created in India in the first half of the current financial year (H1FY23). This is 35 per cent higher than the jobs created in the same period in FY22, a report in Businessline said. A total of 25,330 new establishments were registered under the Employees' Provident Funds and Miscellaneous Provisions Act, of 1952. 

In the first half of FY22, 64,72,000 formal jobs were created and in H2 FY21, 24,60,000 jobs were created, the report added. 

The report was based on the payroll data released by the Employees' Provident Fund Organisation (EPFO). It releases data for establishments