Job Market
Recent data highlights a complex and challenging moment for the American labour market, revealing both troubling signs and resilience in the face of adversity.
Provisional payroll data update of the Employees’ State Insurance Corporation (ESIC) on Monday revealed that 20.23 lakh new employees joined the scheme as beneficiaries in May, 2023.
Around 24,886 new establishments have been registered and brought under the social security umbrella of the ESIC during the month to expand its coverage.
Data evidently reveals that more jobs have been generated for the youth of the country as out of the total 20.23 lakh employees added during the month of May, 2023, 9.40 lakh employees, up to the age of 25 years, constitute the majority of the new registrations, which is 47 per cent of the total new beneficiaries.
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A gender-wise analysis of the payroll data indicates that the net enrollment of female members has been 3.96 lakh in May, 2023.
The data shows that a total of 71 transgender employees have also got registered under ESI Scheme in the month of May 2023. This proves the ESIC is committed to deliver its benefits to every section of the society, the Ministry of Labour and Employment said.
The payroll data is provisional since the data generation is a continuous exercise, the Ministry said.
During April this year, 17.88 lakh new employees came under the coverage of the ESIC. Around 30,249 new establishments were registered and brought under the social security scheme during the month, increasing its coverage.
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