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Formal job creation in FY 23
June 10 , 2023
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- According to the Employees’ Provident Fund, 1.39 crore people found new formal jobs in India in FY23.
- This is a 13 per cent increase compared to FY22.
- Data from the Centre for Monitoring Indian Economy (CMIE) also showed lower unemployment rate, 7.6 per cent, in FY23.
- It fell down compared to the previous two financial years — 8 per cent in FY22 and 10 per cent in FY21.
- Maharashtra has topped in the financial year by adding 30.28 lakh payroll.
- Tamil Nadu is in second place, with 14.05 net new payroll additions in FY23.
- Karnataka, Haryana and Gujarat bagged the third, fourth and fifth positions, respectively.
- Among the large states, Assam had the fewest formal job creations at 64,432.
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