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Employment in the Country Increased to 64.33 crore in 2023-24

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The KLEMS (K: Capital, L: Labour, E: Energy, M: Materials and S: Services) database published by Reserve Bank of India’s (RBI) provides employment estimates at all India level including public and private sectors. As per the latest data of the database, provisional estimates for 2023-24, employment in the country increased to 64.33 crore in year 2023-24 compared to 47.5 crore in 2017-18. Total increase in employment during 2017-18 to 2023-24 is about 16.83 crore.

Employees’ Provident Fund Organization (EPFO) Payroll Data gives an idea of the level of employment in the formal sector. More than 1.3 crore net subscribers joined EPFO during 2023-24. Moreover, during last six and half years (since September 2017 to March 2024) more than 6.2 crore net subscribers have joined EPFO indicating increase in formalization of employment.

The data on Employment and Unemployment is collected through Periodic Labour Force Survey (PLFS) which is conducted by the Ministry of Statistics and Programme

Implementation (MoSPI) since 2017-18. This information was given during the Monsoon Session of Parliament by the Union Minister of State for Labour & Employment, Smt. Shobha Karandlaje in a written reply in Lok Sabha.