7.16 lakh jobs created in Dec, 72.32 lakh in last 16 months: Payroll data

Around 72.32 lakh new subscribers were added to social security schemes of the EPFO between September 2017 to December 2018.

Employment in the formal sector almost trebled to touch a 16-month high of 7.16 lakh in December 2018 compared to 2.37 lakh in the year-ago month, according to the latest EPFO payroll data.

Around 72.32 lakh new subscribers were added to social security schemes of the Employees' Provident Fund Organisation (EPFO) between September 2017 to December 2018, the data showed. This indicates that these many jobs were created in the last 16 months.

The EPFO, however, revised downwards its payroll data for November 2018 by 23.44 per cent to 5.80 lakh against the earlier estimate of 7.16 lakh released last