New formal job creation at 22-month low in March, shows EPFO data

Fresh monthly formal job creation declined sequentially for the fourth straight month in March to a 22-month low, thus signaling pressure in the employment market. These are the findings from the latest payroll data released by the Employee Provident Fund Organisation (EPFO) on Saturday.

The number of new monthly subscribers under the Employees’ Provident Fund (EPF) declined by 0.8 per cent to 757,792 in March from 764,106 in…