ECONOMY

One Out Of Every Two Payroll Is New, First Job In Q1 FY22 – SBI Research

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

India created 30.74 lakh payroll in Q1 FY22, of which 16.3 lakhs were first jobs, new payroll (Employees’ Provident Fund Organisation and National Pension System), 11.8 lakh crores were second jobs, existing payroll and 2.6 lakhs were formalised accounts.

Cumulatively, total new payroll / first job generation of EPFO and NPS was almost 16.3 lakh in Q1 FY22.

If the new payrolls increase at this rate then the new payroll may cross 50 lakh mark in FY22 as against 44 lakhs in FY21.

The good thing is that three indicators of net EPF subscribers have witnessed a jump in Q1 FY22 indicating that labor market disruptions were much lower during second wave.

Click on the attachment to read the full report:

SBI Research Ecowrap 030921.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Most Related Links :
reporterwings Governmental News Finance News

Source link

Back to top button