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Formal job creation dips in August after four bright months

Source | | ET Bureau

Formal job creation┬áin India slowed in August after remaining buoyant for the previous four months, as per enrolments with the Employees’ Provident Fund Organisation, Employees’ State Insurance Corporation and for the National Pension Scheme.

Net new EPFO subscriber addition fell 7.1% to 1.69 million in August from 1.82 million in July, according to provisional payroll data from the National Statistical Office (NSO) under the statistics and programme implementation ministry, released on Tuesday. It was 1.83 million in June, 1.68 million in May and 1.53 million in April.

The ESIC registered an 8% decline in net subscriber addition at 1.46 million compared with 1.58 million in July. The insurance programme had reported a net 1.56 million new enrolments in June, 1.51 million in May and 1.28 million in April.

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