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The new job generation in Bangalore during the July-September quarter of the current financial year has surged by 12.3 per cent as against the previous quarter (April-June), according to apex industry body ASSOCHAM.
“With over 21,000 new job opportunities created in various sectors across Bangalore during second quarter of FY14, the new job generation has increased significantly from over 18,700 new jobs generated during Q1,” according to a sector-specific analysis on ‘Job Trends Across Cities & Sectors,’ conducted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM). “A total of over 136,000 new jobs were generated in various sectors across India during Q2 of FY14 which increased from over 125,000 new jobs that were generated during Q1 and top five metros viz, Bangalore, Chennai, Delhi-NCR, Kolkata and Mumbai together account for about 61 per cent of these new jobs,” said D S Rawat, secretary general of ASSOCHAM while releasing the analysis.
The ASSOCHAM team tracked the data on a daily basis for vacancies posted by over 3,000 companies on various job portals, advertisements in job supplements of national and regional dailies and news journals for 56 cities and 32 sectors offering employment opportunities across India. “Acquiring a share of over 15 per cent in total number of new jobs generated across cities and sectors in India in Q2, Bangalore has emerged as second most significant employment hub after Delhi-NCR (national capital region) which remained on top with highest share of about 24 per cent.
However, new job generation in Delhi-NCR plummeted by over five per cent during the aforesaid period,” said Rawat.
“Information technology (IT), IT enabled services (ITeS) and IT hardware sector accounted for lion’s share of 67 per cent in the total new jobs generated in Bangalore as over 14,000 new jobs were created in Q2 as against over 10,600 new jobs generated in the sector in the previous quarter thereby registering a quarter-over-quarter growth rate of over 30 per cent,” the study said.
Sector-wise the construction and engineering sector ranked second, generating over 1,400 new jobs in Bangalore followed by banking, financial services and insurance (BFSI) which created over 1,000 jobs, academics (729 new jobs) and telecom (700 new jobs). While, biotechnology and pharma, energy, merchandising, media, research and consultancy were certain sectors that registered a growth in new job generation in the city.
Amid other Tier I centres, registering quarter-over-quarter growth rate of over 11 per cent and nine per cent, Mumbai (14,649 new jobs) and Chennai (8,786 new jobs) respectively have recorded a surge in job generation during the course of past three months, highlighted the analysis conducted by the ASSOCHAM Economic Research Bureau (AERB). Kolkata has registered a decline of about two per cent as over 6,400 new jobs were generated in Q2 as against 6,500 new jobs in Q1.
“With over 58,000 new jobs, IT, ITeS and IT hardware sector has garnered the highest share of over 42 per cent in the new job generation and the sector has clocked an overall growth rate of over 12 per cent in Q2 as the sector together had created over 49,500 new jobs in the previous quarter,” said Rawat.
“The BFSI has ranked as second highest job generating sector with over 22,900 new jobs and the sector together has clocked a growth rate of over 32 per cent.”
Construction and engineering sector together has generated over 7,200 new jobs and thereby registering a growth rate of over 10.5 per cent, highlighted the ASSOCHAM analysis.
Telecom, civil aviation, pharma and bio-technology, fast moving consumer goods (FMCG), energy, hospitality, advertising and event management, sports, merchandising, other manufacturing, automobile, research and consultancy are amid other significant sectors that have seen a surge in employment generation.
While academics and education, real estate, agriculture and allied activities, architecture, gems and jewellery, human resource (HR), infrastructure, logistics, media, retail, textile and warehousing are certain sectors that have registered a dip in new job generation in Q2.