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As per the provisional data, released by the ministry of labour and employment on Sunday, the year-on-year net new subscribers addition to EPFO was higher by 7.8% when compared to 1.48 million net new subscribers added in January 2023. ....
The government s skilling scheme, launched in 2015, has trained 13.7 million people, resulting in a 22% placement rate, reducing urban unemployment, increasing women s labor force participation, and increasing their formal job share. ....
Labour ministrys payroll data for EPFO, released on Friday, shows the formal jobs created in August this year were the same as August last year though the net new subscriber addition fell by over 10% month-on-month with 1.87 million subscribers added to the retirement fund body in July this year. ....
Formal job creation by the Employees State Insurance Corporation (ESIC) slightly decreased in August, with 1.94 million jobs added compared to 1.98 million in July. However, the number of new establishments registered with ESIC in August was lower than in July. The data also showed that a significant proportion of the workforce added to ESIC in August were aged 25 or younger. ....
The BFSI sector is currently experiencing the highest hiring and attrition rates. There is a strong demand for open positions, particularly in credit card sales and customer service roles. The hospitality and tourism sectors are also seeing growth, with a 60% increase in related jobs year-on-year. There is a preference for women employees in 70% of these roles. In terms of geography, business-related hirings are concentrated in metro cities, while local hiring is more prominent in leisure tourism areas. ....