One payroll out of every 2 in Q1 was new, first-time job: Report

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NEW DELHI: The second wave of Coivd-19 had a muted impact on the labour market in India as nearly 30.74 lakh payrolls were created in the April-June quarter, a report by State Bank of India (SBI) economists showed.
The report studied payroll data from Employees Provident Fund Organisation (EPFO) and New Pension Scheme (NPS) during the first quarter (Q1) of the financial year 2021-22 when the country was reeling under the severe second wave of the pandemic.
According to the report, quarter was good for those starting their job as there was a significant jump in the number of employees who joined their first jobs.
Of the total 30.74 lakh payrolls created in Q1, 16.3 lakh were first jobs or new payrolls, the report showed. Amongst these new payrolls, EPFO added 14.5 lakh while the rest were accounted for under the NPS.

Meanwhile, latest data by the EPFO indicates that of the overall…

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