Under the ESI scheme of the Employees State Insurance Corporation (ESIC), 20.74 lakh new employees were registered in August. The Ministry of Labor and Employment said in a statement that 9.89 lakh young workers up to 25 years of age are included in the new register. During this period, 4.14 lakh employees have registered for the ESI scheme.
28,917 registered companies
The statement said that in August, 28,917 new companies were registered under the ESI scheme. Provisional payroll data from ESIC shows that 20.74 lakh new employees were added in August 2024, ensuring social security to more workers. Apart from this, net enrollment in August increased by 6.80 percent year-on-year. During the analyzed period, a total of 60 transgender employees were also registered. The statement states that the payroll figures are provisional, as data collection continues on an ongoing basis.
There will be more employment opportunities in the future.
Indian corporate hiring sentiment is strongest globally in Q4 2024. This means there will be excess employment. Companies are enthusiastic about the country's economic situation and 37 percent of employers plan to increase the number of their employees. This has come to light in a recently published survey. According to Man Powergroup's Employment Outlook Survey for Q4 2024, India's net employment scenario is the strongest globally at 37 per cent. After this, Costa Rica with 36 percent and the United States with 34 percent occupy second and third place respectively.
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These sectors are at the top
According to the survey, the northern region of India leads in employment demand with a probability of 41 per cent. Next comes the western region with 39 percent. The employment scenario in India, Singapore and China has strengthened. Hong Kong employers were very cautious about employment. The survey is based on responses received between July 1 and 31, 2024. 40,340 employers in 42 countries were asked about their hiring intentions for the fourth quarter.
