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Relaxation of curbs on economic activity helping job opportunities: Report

The Teamlease Employment Outlook report for the July-September quarter noted that the intent to hire freshers has increased by 7 per cent in the current quarter.

Topics
Indian Economy | India's job market

Press Trust of India  |  New Delhi 

the study found 40% of recontacted workers had no work or pay, 10 months on from the first lockdown months

Easing of restrictions on economic activity coupled with increasing focus on ramping up operations and sales by businesses is having a positive impact on hiring of freshers, according to a Teamlease report.

The Teamlease Employment Outlook report for the July-September quarter noted that the intent to hire freshers has increased by 7 per cent in the current quarter.

Further, the intent to hire junior level staff is also on a positive trajectory, indicating that the second quarter of this fiscal year is expected to be dominated by volume hiring, the report said.

The survey covered 661 small, medium and large companies across 4 geographical areas (metros, tier-1, tier-2/3 and rural), 4 hierarchical levels (entry, junior, mid and senior levels) and 7 functional areas (sales, marketing, information technology, engineering, office services, human resources, blue collar).

"Most of the industries seem to have overcome the impact of the second wave and are moving towards growth. In fact, the focus of industries on profiles that are at the execution level is an indication that businesses have got their strategy as well as plan in place and this trend of positive momentum is here to stay," said Rituparna Chakraborty, Co-Founder & Executive Vice President, TeamLease Services.

According to the report, the growth in the GST collection, e-way bills, vehicle registrations, electricity demand, rail freight, and petrol consumption seems to indicate that the economy has started to recover from the impact of the second wave and this seems to be having a ripple and positive impact on the hiring sentiments as well.

"The festive season is round the corner and most of the sectors would want to put the season to maximum use and this also a reflection why there is a significant rise in demand for freshers and junior talent," Chakraborty added.

The positivity in the intent is largely dominated by Healthcare & Pharmaceuticals, Information Technology, Educational Services, Ecommerce & Technology Start-ups, Fast Moving Consumer Goods, Agriculture & Agrochemicals, Retail [Essential], Logistics and Manufacturing, Engineering & Infra.

The report further said that in India, a better than projected GDP growth, demand uptick, higher export valuation and healthy ultra-high frequency data during Q1, and the relaxation of restrictions on economic activity is opening up opportunities.

"However, drop in the PMI for Manufacturing and Services in the aftermath of the second wave lowers the growth in hiring intent," it noted.

Globally, inoculation drives and unlocking of economic activities are gradually raising hiring intent in many regions, but the recovery is inconsistent, the report said.

The Americas, Europe and APAC witnessed impressive improvement in hiring intent. Talent markets in the US, Canada and Middle East benefit from high vaccination rates, while those in APAC countries benefit from the unlocking of their economies, it added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Thu, July 29 2021. 18:08 IST
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