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According to the State Bank of India’s Economic Research Report Ecowrap, the ratio of first job / new salary to total salary in the first quarter of 2010 shows that one of the two jobs was newly added.
The report emphasized that this showed much less labor market turmoil during the second wave of the Covid-19 pandemic.
This increase in employment is backed by a 20.3% GDP growth in the April-June quarter, compared to a 24.4% decline in the year-ago quarter. According to the latest data released by the Employee Provident Fund Organization (EPFO), new EPF subscribers from April to June 2021 were 28.9 Rakı, which was compromised by the catastrophic second wave. Given that, he added that it was very encouraging.
Soumya Kanti Ghosh, Group Chief Economic Advisor of SBI, said:
“If salaries increase at this rate, new salaries could exceed 50 larks in 2010, compared to 44 larks in 2009.”
Gauche expects labor market activity to remain strong this year as companies continue their employment plans.
NPS and EPFO data
According to Ecolap, according to National Pension System (NPS) data, 1.85 Rak new members were added from April to June 2021, of which the state government salary was 1.27 Rak, followed by non-government (37,587). And the central government (20,353) was added.
The second number of jobs (that is, re-enrollment and re-subscription of withdrawn members) was also encouraged at 11.8 larks from April to June 2021 (41.2 larks in 2009). The formalization was Rs 260,000 in the first quarter of 2010.
Cumulatively, the total new salary / initial employment for the EPFO and NPS was around Rs 163,000 from April to June 2021.
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