A total of 61.12 lakh jobs were created in the financial year 2019, as per the payroll data from Employees’ Provident Fund Office (EPFO). The data reveals that the formal sector saw net employment creation of 10.43 lakh in April 2019. This is the highest number since September, 2017.
This is the first time that more than 10 lakh jobs have been created in one month. According to the report in the financial year 2019, 61.12 lakh jobs have been created.
As per the release, 61.12 lakh jobs were created in the financial year 2019. Between September 2017 and March 2018, about 15.52 lakh jobs were created. Therefore, in total, the number of jobs created between September 2017 to April 2019 was 87.08 lakh.
The number of new members who joined the EPF scheme in April 2019 was 8.78 lakh, whereas 3.35 lakh members left the scheme. However, almost five lakh members rejoined and resubscribed to the scheme.
Even though April witnessed the highest number of job creations, overall, there has been a fall in the number of jobs created per month, by more than 2000.
An average of 4.35 lakh jobs are created every month. This average was 6.11 lakh in November 2018, which means there has been a steady reduction. It fell to 5.65 lakh in December 2018, further dipped to 4.90 lakh in January 2019, again fell to 4.52 lakh in February and then to 4.50 lakh in March. In April it was only about 4.49 lakh and in May, 2019 it fell to 4.37 lakh.