Employment in India: This year there is a flood of jobs in India, know how many crore youth will get the opportunity
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Employment in India: This year has been better for the youth of India than last year. According to a report, for the last few years, about one crore youth were getting employment in the country every year. State governments are ahead of the central government in providing employment. SBI Research has prepared a report by analyzing the data of EPFO and NPS. According to this report, during the financial year 2019-20 to financial year 2022-23 EPFO The number of subscribers has increased by 4.86 crores. This trend of employment growth continues in this financial year. within the first 3 months EPFO The number of subscribers has increased by 44 lakh on net basis.
More appointments will be made in three months
Employers in India are expected to make more hires over the next three months, as organizations focus on enhancing the professionalism of their workforce and creating a positive work culture. This came to light in a survey on Tuesday. According to a new survey conducted by ManpowerGroup Employment Outlook on about 3,020 employers from various sectors, there has been a decline of 17 percent in the intention to recruit as compared to the same period last year, while on a quarterly basis A slight improvement of one percent has been seen in this. The net employment rate in the October-December quarter was 37 percent, which is one percent more than the July-September quarter of 2023. However, compared to the same period last year, there has been a decline of 17 percent.
‘Despite political and economic uncertainties, the signals are clear’
Sandeep Gulati, Managing Director, ManpowerGroup India & Middle East, said that despite geopolitical and economic uncertainties around the world, the survey findings clearly indicate a stable economy. Talking about region-wise, 40 percent of the employers in the North expressed their intention to make strong recruitment. Whereas 38 percent employers in the West, 36 percent in the South and 34 percent in the East expressed their intention to hire people.
5.2 crore new jobs created in the organized sector in the country in four financial years
About 5.2 crore new jobs have been created in the organized sector in the country during the financial year 2019-20 to 2022-23. A net 2.7 crore jobs were created in this. This information has been given in a report released on Tuesday by SBI Research based on the analysis of data from Employees’ Provident Fund Organization (EPFO), NPS and Employees’ State Insurance Corporation (ESIC). The government has been releasing data on employment generated in the organized sector since April 2018. Information about employment is being released on the basis of data received from EPFO, National Pension Scheme (NPS) and ESIC.
Nearly 31 lakh new subscribers joined NPS in four years
According to the last four years’ data of EPFO regarding employment created in the organized sector, 4.86 crore shareholders joined the Employees Provident Fund Organization during the financial year 2019-20 to 2022-23. This includes people who resign from one place and get a job at another place along with new jobs. According to the data, excluding those who got a job again or became EPFO subscribers again, the net number of people who got their first job was 2.27 crore. According to NPS data, 8.23 lakh new shareholders joined the new pension scheme in the financial year 2022-23. In this, 4.64 lakh shareholders were included in the state government, 2.30 lakh in non-government sectors and 1.29 lakh in the central government. According to the report, about 31 lakh new subscribers joined NPS in the last four years. This means that cumulatively more than 5.2 crore jobs have been created in EPFO and NPS. The share of women in total jobs was about 27 percent.
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