This is an increase of 6.1% from July 2021; Data based on fresh enrollments made with EPFO
According to provisional data provided by the Employees’ Provident Fund Organization (EPFO), about 1.74 lakh new jobs were created in the formal sector in Tamil Nadu in August 2021. This is an increase of 6.1% from about 1.64 lakh jobs in July 2021 as per the data.
The new jobs added are measured in terms of the number of new net enrollments made with the EPFO.
In April 2021, the number of new jobs created was around 1 lakh and it declined to 33,421 in May 2021 amid the second wave of the COVID-19 pandemic. The situation improved in June 2021 with the addition of 65,968 jobs in the formal sector.
“Tamil Nadu continues to be among the top 3 states in India adding new subscribers to EPFO. Aditya Mishra, CEO, CIEL HR Services recruitment firm, said, “We are witnessing a resumption of economic activity in the “services industry” and enrollment of new employees in the sector. The manufacturing, engineering and construction sectors have seen a lot of churn in manpower. “We are seeing new people joining organizations in these areas as well,” he said.
Shri Mishra also informed that with the positive momentum of digitization, the IT industry has expanded rapidly. He said the IT services and business process management industries are increasingly connecting people, and so are companies in the fintech, edtech, healthtech space.
KE Raghunathan, former national president of All India Producers’ Organization and member of the Central Board of Trustees (CBT) of EPFO representing employers, said Tamil Nadu, as expected, did better than other southern states as per EPFO’s payroll data. has performed. . He attributed this to a good COVID-19 vaccination campaign and improvement in industrial activity in the services, exports and manufacturing sectors.
Shri Raghunathan said pick-up in demand in the festive season, execution of backlog orders, shifting of employees from informal sector to formal sector are other possible reasons for the improvement in job numbers.
He said political stability and a clear emphasis on industrial development have attracted employers to expand their workforce to be ready.
According to the central government, the payroll data is provisional as data generation is a continuous exercise, as the updation of employee records is a continuous process and the previous data is therefore updated every month.
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