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Fresh formal job creation stays below 1 million in November: EPF data

The number of new monthly subscribers under the Employees' Provident Fund (EPF) scheme increased to 899,332 in November from 768,643 in October

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Net payroll addition, increased by 45.9 per cent to 1,625,711 in November from 1,114,250 in October

Shiva Rajora New Delhi
Fresh formal job creation remained below one million for the second consecutive month in November, signalling pressure in the employment market, the latest payroll data released on Friday showed.

However, after falling for three consecutive months, fresh formal job creation rose 17 per cent sequentially in November, aided by the low base in October.

The number of new monthly subscribers under the Employees’ Provident Fund (EPF) scheme increased to 899,332 in November from 768,643 in October.

October had seen the lowest monthly enrolment since May 2021, when only 649,618 new subscribers were added.

Earlier in FY23, the number of monthly

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First Published: Jan 20 2023 | 8:34 PM IST

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