New Delhi: In a positive sign for India’s job market, the provisional payroll data released by the Employees’ State Insurance Corporation (ESIC) for December 2023 reveals the addition of 18.86 lakh new employees. This data showcases a substantial increase in job opportunities and a growing workforce in the country.
During the same period, 23,347 new establishments were registered under the social security umbrella of the Employees’ State Insurance Scheme (ESI), further expanding the coverage to additional workers. This initiative aims to ensure that more employees benefit from the social security measures provided by the ESIC.
A detailed analysis of the data indicates that the youth demographic has significantly benefited from this job growth. Out of the total 18.86 lakh employees added in December 2023, 8.83 lakh employees, constituting approximately 47% of the total registrations, fall within the age group of 25 years and below. This underscores the positive impact on employment opportunities for the younger generation.
Furthermore, the gender-wise breakdown of the payroll data highlights the increasing inclusion of women in the workforce. The net enrolment of female members in December 2023 stands at 3.59 lakh, reflecting a positive trend towards gender diversity and empowerment.
In a noteworthy development, the data reveals the registration of 47 transgender employees under the ESI Scheme in December 2023. This demonstrates the ESIC’s commitment to extending its benefits to every section of society, fostering inclusivity and social welfare.
It is essential to note that the payroll data is provisional, given that data generation is an ongoing and continuous exercise. The release of such encouraging figures reflects the concerted efforts to stimulate economic growth and create a conducive environment for job creation and social security measures. The ESIC’s commitment to inclusivity and comprehensive coverage is evident in the diverse demographic represented in the payroll data, affirming its role in contributing to India’s economic development.
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