New jobs in the formal sector decreased by 20.8% in October, new subscribers joining EPF at the lowest level in 7 months.

India saw a sharp decline in the number of formal hiring (new appointments) in the month of October, indicating sluggishness in the formal labor market this month. The number of new subscribers under the Employees' Provident Fund (EPF) declined by 20.8 per cent to 7.5 lakh in October, the lowest in seven months. september […]