Social Security

In a positive development for India’s employment landscape, the Ministry of Labour and Employment has reported a substantial increase in job opportunities for the youth. According to the provisional payroll data of the Employees State Insurance Corporation (ESIC), a staggering 7.47 lakh new jobs were generated for individuals up to the age of 25 in November 2023. The data, shared by the ministry, discloses that a total of 15.92 lakh new employees have been enrolled under the Employment State Insurance (ESI) scheme during the same period. Notably, the youth demographic constitutes a significant portion, accounting for 47% of the total registrations in November 2023. An official statement from the ministry emphasized the evident growth in youth employment, stating, “Data evidently reveals that more jobs have been generated for the youth of the nation.” The ministry also provided insights into the gender distribution, indicating that 3.17 lakh new workers are women, while 58 transgender employees have been included in the ESIC scheme. Highlighting the inclusive nature of the ESIC initiative, the ministry expressed commitment to extending benefits to all sections of society. Additionally, the government revealed that 20,830 new establishments have been brought under the social security umbrella of the scheme in November 2023, expanding coverage to more workers. It’s important to note that the Ministry of Labour and Employment clarified that the payroll data is provisional, as data generation is an ongoing process. Despite this, the positive trends observed in November 2023 suggest a promising outlook for the nation’s employment scenario, particularly for its youth population.