India sees 8.5 million new salaried jobs in October 2022: CMIE

This takes the total number of salaried employees in the country to about 86 million

November 11, 2022

The number of salaried workers in August 2020 stood at 65 million

Employment addition in October FY23 was higher than pre-Covid numbers

2.14 million urban salaried jobs were added in September 2022, and 2.26 million were added in October 2022

The average annual salary of an urban salaried employee reached INR 300,000

India witnessed the addition of over 8.5 million new salaried jobs between September and October this year, making the total number of salaried employees in the country reach about 86 million, according to a report from the Centre for Monitoring Indian Economy (CMIE). 

According to the report, the number of salaried workers in August 2020 stood at 65 million. Employment addition in October FY23 was higher than pre-Covid numbers, and the increase happened three years after the pandemic-induced lockdown. 

Media reports mentioned that the share of salaried jobs has increased to its pre-Covid levels of 21.4% in October 2022, after touching a low of 17% during the pandemic. In both September and October this year, salaried jobs were higher than they were during any month during the pandemic. 

A cumulative increase of 4.4 million urban salaried jobs was witnessed in the last two months. The CMI report mentioned that 2.14 million urban salaried jobs were added in September 2022, and 2.26 million were added in October 2022. 

The report further added that the average annual salary of an urban salaried employee reached INR 300,000. Last year, the average remuneration of a salaried employee stood at INR 263,385 per annum. In 2021, an average business person made INR 134,323 per annum and small traders & daily wage labourers made about INR 117,053 per annum.


Source: Economic Times

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