Fresh formal job creation fell for third straight month, show EPFO numbers

New EPFO subscribers dipped by a sharp 26% in October, from the level a month ago

formal job creation

Surprisingly, enrolment of new male subscribers fell faster, by 26.1 per cent, than their female counterparts (25.5 per cent) in October

Shiva Rajora New Delhi
The number of fresh formal jobs created fell for the third straight month in October, as the quantum of new subscribers enrolling under the Employees’ Provident Fund Organisation (EPFO) that month declined by a sharp 25.9 per cent from the September levels, the latest payroll data released on Tuesday shows.

Earlier, August (9.4 per cent) and September (6.1 per cent) had also seen a month-on-month decline in the number of new subscribers.  

New Employees’ Provident Fund (EPF) subscriptions in October plunged to 727,899 from 982,526 in September. This is the lowest monthly enrollment under the social security organisation since May 2021, when only 649,618 new subscribers were added.  

First Published: Dec 20 2022 | 8:37 PM IST

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