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Experience Counts: Formal jobs go to 30+
The pandemic and the increasing formalisation seem to favour experienced persons. Employee Provident Fund Organisation (EPFO) data shows that the share of those over 29 in formal employment increased to 37.3% in 2022-23 (Apr-Nov) — the highest in five years — and the share of younger employees declined. Share of women in the workforce has also declined marginally
Source | economictimes.indiatimes.com | ET Bureau
The pandemic and the increasing formalisation seem to favour experienced persons. Employee Provident Fund Organisation (EPFO) data shows that the share of those over 29 in formal employment increased to 37.3% in 2022-23 (Apr-Nov) — the highest in five years — and the share of younger employees declined. Share of women in the workforce has also declined marginally. Ishaan Gera looks at the data:
What Experts say:
- Firms keener on retaining and recruiting older employees
- More women opting for higher education
- Younger people and women most affected during crisis
- Higher share of older employees where employment opportunities are low
