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At 7-Month Low, Job Creation in Formal Sector Declined by 16.7% in October: EPFO Data

At 7-Month Low, Job Creation in Formal Sector Declined by 16.7% in October: EPFO Data
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New Delhi , Centre For Monitoring Indian Economy , Consumer Pyramids Household , Employee Provident Fund Organisation , National Statistical Office , Business Standardreported , Monitoring Indian Economy , Pyramids Household Survey ,

Fresh formal job creation declines to six-month low, shows EPFO data

Fresh formal job creation cooled for the second consecutive month to decline to a six-month low in September, signalling a downturn in the labour markets this financial year.

The number of new monthly subscribers under the Employees Provident Fund (EPF) declined by 6.45 per cent to 891,583 in September from 953,092 in August, shows the latest payroll data released by the Employees Provident Fund Organisation (EPFO).

Besides, the net payroll additions calculated by taking into account the number of new subscribers, the number of exits, and the return of old subscribers increased by 14.9 per cent to 1.72 million in September from 1.49 million in August. ....

Uttam Ghosh Rediff , National Statistical Office , Consumer Pyramids Household , Employee Provident Fund Organisation , Centre For Monitoring Indian Economy , National Pension System , Employee Provident Fund , Monitoring Indian Economy , Consumer Pyramids Household Survey , Employee State Insurance Scheme , National Pension , Business News , Usiness News India , Ndia Business News , Ndian Economy News , Ndian Financial News ,