NSO: In July, more over 10 lakh people joined the organised work force

According to the most recent data from the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation, over 10 lakh persons entered the organised labour force in July.

Read more : Unemployment rate among graduates under 25 years of age reached a staggering 42 % post-Covid

According to the data, there were 1,027,145 new Employee Provident Fund (EPF) subscribers in July 2023, including 752,164 male and 274,967 female members as well as 12 from other sources.

According to the figures, 331,541 new workers between the ages of 18 and 21 entered the official labour force, with 258,374 men and 73,165 women.

2,68,872 new people entered the formal labour between the ages of 22 and 25, with 192,972 men and 75,900 women, respectively.

101,130 new workers in the 26–28 age brackets entered the labour force, with 74,802 males and 26,326 women, respectively.

150,439 new workers, including 103,293 men and 47,141 women, entered the 29–35 age bracket.

167,339 new workers over the age of 35 entered the workforce. 50,564 women and 116,771 men were represented.

Interesting figures revealed that 324,878 men and 99,509 women stopped being EPF members throughout the month, totaling 424,433.

A total of 1271,872 members left and rejoined the EPF during the month of July, with 1061,446 males and 210,416 women.

Even among those with higher education, the percentage of unemployment varies greatly, according to a paper from Bengaluru's Azim Premji University titled "State of Working India 2023: Social Identities and Labour Market Outcomes," even if post-covid numbers are still lower than pre-covid levels.

According to a survey on the employment market issued last week, the Covid-19 pandemic left up to 42% of graduates under the age of 25 without a job, and the rate of job creation slowed after the global economic slump.

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