Synopsis
According to the latest payroll data from the Employees' State Insurance Corporation (ESIC), December 2024 witnessed the registration of 17.01 lakh new employees, with over 20,000 establishments joining the ESI Scheme, enhancing social security for more individuals.Key Takeaways
- 17.01 lakh new employees registered in December.
- 20,360 establishments included under ESI Scheme.
- 48.35% of new registrations are individuals under 25.
- Female enrolment at 3.46 lakh.
- Unemployment rate decreased to 6.4% in urban areas.
New Delhi, Feb 21 (NationPress) The payroll statistics from the Employees' State Insurance Corporation (ESIC), published on Friday, reveal that 17.01 lakh new employees were registered in December 2024. Additionally, 20,360 new establishments have been incorporated into the social security framework of the ESI Scheme this month, thereby providing social security to a greater number of workers.
Among the newly registered 17.01 lakh employees, 8.22 lakh, which is nearly 48.35% of total registrations, belong to the age group of 25 years and below, marking new entries for individuals starting their careers, according to the Ministry of Labour and Employment.
A gender-specific breakdown of the payroll data shows that the net increase in female members was 3.46 lakh in December. Furthermore, 73 transgender individuals also registered under the ESI Scheme during the same month.
The ESIC payroll statistics come shortly after the Ministry of Statistics released figures indicating that the Labour Force Participation Rate (LFPR) in urban India for individuals aged 15 years and above rose to 50.4% in the quarter of October-December 2024, up from 49.9% in the same quarter of the previous year. This indicates an uptick in employment across the nation.
LFPR for males aged 15 and above in urban regions increased to 75.4% during the October-December 2024 quarter, compared to 74.1% in the same quarter of 2023, indicating a general upward trend in male LFPR.
For females 15 years and older in urban areas, LFPR grew to 25.2% during this quarter, rising from 25% in the same period last year.
The Worker Population Ratio (WPR), another employment metric, also saw an increase in urban areas, reaching 47.2% among individuals aged 15 and above during October-December 2024, up from 46.6% in the same quarter of 2023.
For males aged 15 and above in urban regions, WPR climbed to 70.9% this quarter, compared to 69.8% during the same period last year, reflecting a consistent upward trajectory in male WPR.
Additionally, the data indicates that the unemployment rate in urban areas for those aged 15 and above fell from 6.5% during October-December 2023 to 6.4% in the same quarter of 2024.
