According to the Central Statistics Office (CSO), nearly 1.2 crore jobs were generated in the country in the 10-month period till June this year. The CSO's employment report is founded on new memberships with retirement fund body EPFO, Employees' State Insurance Scheme (ESIC) and National Pension Scheme (NPS).
The report states that as many as 1,19,66,126 new members joined the health insurance scheme Employers State Insurance (ESI) of the ESIC during September 2017 to June 2018, with the highest number of new member enrolments in May this year at 13,18,395.
Around 60,40,616 persons stopped being members of the Employment Provident Fund Organisation (EPFO) during the 10-month period, but 1,07,54,348 new members joined it. The report added that the estimated total number of new NPS subscribers during the period is 6,10,573.
The CSO issued the report for the period September 2017 to June 2018 and said it is based on administrative records obtained from government agencies like EPFO, ESIC and PFRDA. The report gives different perspectives on the levels of employment in the formal sector and does not quantify employment at a holistic level.
The Ministry of Statistics and Programme Implementation released the first employment related statistics in the formal sector in April 2018, from the period September 2017 to February 2018. The information was based on the number of subscribers who have benefitted from EPFO, ESIC and NPS.