New Delhi: According to the latest data from the KLEMS (Capital, Labour, Energy, Materials, Services) database published by the Reserve Bank of India (RBI), India’s employment landscape has seen substantial growth over recent years. The provisional estimates for the fiscal year 2023-24 reveal that employment in the country has surged to 64.33 crore, a notable increase from 47.5 crore recorded in 2017-18. This marks a total increase of approximately 16.83 crore jobs over the period.
The Employees’ Provident Fund Organization (EPFO) payroll data further underscores this trend. During 2023-24, over 1.3 crore net subscribers joined the EPFO, with more than 6.2 crore net subscribers having joined since September 2017. This indicates a significant move towards formalization in the employment sector.
Additionally, data from the Periodic Labour Force Survey (PLFS), conducted annually by the Ministry of Statistics and Programme Implementation (MoSPI) since 2017-18, provides further insights into employment trends. The Worker Population Ratio (WPR) for individuals aged 15 years and above has shown a steady increase, with the following estimates:
These figures reflect a positive upward trend in employment, indicating a growing labor market.
The Government of India is prioritizing employment generation and employability enhancement through various initiatives. Key programs and schemes include:
These schemes are implemented across various ministries including the Ministry of Micro, Small & Medium Enterprises, Ministry of Rural Development, Ministry of Housing & Urban Affairs, Ministry of Finance, and Ministry of Textiles.
Union Minister of State for Labour & Employment, Smt. Shobha Karandlaje, highlighted these developments in a written reply to the Lok Sabha today. She emphasized the government’s commitment to enhancing employment opportunities and improving employability, showcasing the significant progress made in recent years.
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