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Fewer fresh formal jobs in 2023
December 9 , 2023
222 days
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- It was the recent data from the Employees’ Provident Fund Organisation (EPFO).
- It reveals a 10.1% decline in new subscribers during the first half of the fiscal year 2023-24, indicating a slowdown in formal job creation.
- One concerning trend is the 9.54% reduction in subscribers aged 18-28.
- This group is a demographic typically associated with first-time entrants into the job market.
- The data also reveals an 11.1% decrease in the number of women subscribers.
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