Job Market

How employee referrals for tech jobs became a side hustle in market

While referrals are typically reserved for known quantities - former colleagues, or at least someone with a mutual acquaintance who can vouch for them - there's a burgeoning underground market

Q-commerce drives surge in demand for blue-collar jobs in India: Survey

The quick commerce industry hired about 40,000 workers last quarter to handle increased festive shopping and e-commerce demand

IT major HCLTech marginally hikes salaries of junior-level employees

HCLTech, which is also set to release its third-quarter earnings on January 13, is projected to lead growth among Tier-I IT firms

Is it fair to pay foreign workers less? Co-founder of this US firm says yes

Franco Pereyra, co-founder, COO of Near sparked an online debate by claiming that the less pay for third-world countries employees is justifiable. However, people denied and countered the narrative

At $129 bn, India top recipient of remittances this year: World Bank

The growth rate of remittances this year is estimated to be 5.8 per cent, compared to 1.2 per cent registered in 2023

Best of BS Opinion: Navigating real estate insolvency, tough climate, more

Here is the best of Business Standard's opinion pieces for today

White collar hiring activity up 10% in Oct led by oil & gas, FMCG: Report

White collar hiring activity witnessed a growth of 10 per cent year-on-year in October mainly driven by a rise in recruitment in sectors, including oil and gas, pharmaceuticals, FMCG, and IT, a report said on Monday. The Naukri JobSpeak Index, India's leading indicator of white-collar hiring activity, demonstrated robust growth in October, reaching 2,733 points compared to 2,484 in the same month of 2023, marking a significant 10 per cent year-on-year increase. Key sectors, including oil & gas (18 per cent), pharma/biotech (12 per cent), FMCG (8 per cent), and IT (6 per cent) emerged as primary drivers of this positive trend, with AI/ML roles showing exceptional growth at 39 per cent year-on-year, the report stated. Hiring in the IT sector showed positive growth in four out of the seven months this financial year, auguring well for balance of year trends, added the report. The Naukri JobSpeak is a monthly Index representing the state of the Indian job market and hiring activity ...

US jobless claims fall to five-month low as impact of two storms fades

Initial claims decreased by 12,000 to 216,000 in the week ended Oct. 26. The median forecast in a Bloomberg survey of economists called for 230,000 applications

FY25 fresher hiring by IT sector to rise by 20-25%: TeamLease Digital

Hiring will be focused on specialized skills; TCS and HCLTech doubling their focus on hiring specialized skills

Unemployment steady, but poor job quality persists amid LFPR surge

The female LFPR - rural and urban combined - also increased from a low of 23.3 per cent in 2017-18 to 41.7 per cent in the latest survey

AI will spur jobs but repetitive roles to be impacted: Deloitte top leader

Deloitte's Romal Shetty said that while AI could create more jobs but roles involving repetitive tasks are at risk. He also stressed that while regulations are crucial, it shouldn't stifle innovation

Skilling should be aligned with job market's needs: Jayant Chaudhary

Skilling activities should be aligned with the requirements of the industry and the job market, Union Minister Jayant Chaudhary said on Wednesday. Inaugurating the Airbus-Tata STRIVE skill development centre here, the Skill Development and Entrepreneurship Minister also asked the two companies to further deepen their collaborations with higher education institutions. "It (skilling) needs to be completely aligned with industry, with the requirements of the job market, with the labour market. It needs to be to accentuate what is already present in India," the minister said. Later talking to reporters, he mentioned increasing migration from rural to urban areas and said everyone might not be getting jobs. Against this backdrop, the minister pitched for encouraging development of entrepreneurship skills among youth. The centres at Delhi and Bengaluru will offer courses in the field of Information Technology (IT) such as cybersecurity, ethical hacking, web designing, cloud computing a

47% Gen Z professionals prioritise work-life balance in job search: Report

Forty-seven per cent Gen Z professionals plan to leave their jobs within two years, while as many prioritise work-life balance when evaluating potential employers, according to a survey. The report, titled "Gen Z at workplace", is based on a survey of over 5,350 Gen Z and 500 HR professionals, conducted by Unstop -- a talent engagement and hiring platform for students and graduates. The report highlighted a significant concern among Gen Z professionals, with 51 per cent expressing fear of job loss at present. This anxiety extends to their career prospects, as 40 per cent worry about securing positions in their preferred fields upon entering the job market. "Despite these reservations, Gen Z demonstrates a clear set of priorities when it comes to their careers. 77 pc of the respondents prioritise the role or brand over commercials, with 43 pc specifically seeking hands-on experience and growth opportunities. This focus on professional development is further emphasised by the fact tha

Gig workers to be soon registered on e-shram portal: Mandaviya

He emphasised that aggregators, companies that employ gig and platform workers, will be asked to take the lead in registering their workers on the portal

India's skilled workforce can play key role in global job market: PM Modi

In July, the Union Budget announced a set of five schemes at a cost of Rs 2 trillion for skilling and employment as part of the Prime Minister's package

Hiring activity up 11% in July on job market's positive momentum: Report

The overall job market showed a positive momentum as hiring activity in July rose by 11 per cent compared to the same month of last year, a report said on Wednesday. According to the Foundit Insights Tracker (fit), hiring activity was down 1 per cent on a month-on-month (MoM) basis. Coimbatore has emerged as the leader in job growth among India's Tier-II cities, with a 24 per cent increase in hiring, followed by Jaipur with a 23 per cent rise. Other cities showing strong growth include Delhi-NCR (18 per cent), Chennai (14 per cent), and Pune (12 per cent), the report added. "The strong focus of the recent Union Budget on productivity and job creation is an encouraging sign for the recruitment industry. "We have also noticed that the salaries of employees have consistently risen driven by higher demand for fresh talent and competitive salary offerings. This growth is likely fueled by high-growth sectors such as technology, digital marketing, and e-commerce," Foundit (previously Mon

Tier-I cities dominate in blue-collar gig job opportunities: Report

With a rise in gig economy, tier-one cities led in short-term blue-collar employment opportunities, accounting for 67.1 per cent openings from June 2023 to June 2024, a report said on Saturday. These tier-I cities, which have a large concentration of gig working opportunities, saw 63.11 per cent job applications originating from these urban hubs, a report by tech-enabled blue-collar workforce recruitment platform WorkIndia said. Tier-II cities saw 26 per cent of such job openings and accounted for 25 per cent of applications, indicating balanced growth potential, the report said. However, tier-III cities exhibited a lower proportion of job openings (6.7 per cent) compared to 11 per cent applications, hinting at heightened competition amidst an oversupply of gig workers, the report stated. The WorkIndia report, an annual index representing the state of blue collar workers in the Indian job market and hiring activity, is based on job listings on its platform during June 2023 to June

Mere 29% entry-level professionals confident about retaining jobs: Study

Upskilling had the highest importance among professionals with over 17 years of experience, with 92 per cent of such respondents attesting to the same

'Hospitality industry faces talent crunch, to add 1 mn jobs in few years'

The hospitality industry is expected to add around 1 million jobs in the next few years as the sector is grappling with huge shortage of talent amid rapid expansion after the Covid-19 pandemic, say experts. The current demand-supply gap of talent in the industry stands at around 55-60 per cent, indicating a substantial mismatch between the needs and the available talent pool, Randstad India Director, Professional Talent Solutions, Sanjay Shetty told PTI. Issues related to talent shortage was fuelled by the post-pandemic boom in demand, Shetty said, adding that the the momentum is expected to continue in the next few years with at least a million jobs being created. According to industry leaders, the overall hiring has more than quadrupled post-Covid with entry-level positions emerging as the most sought-after in the past two years. Some companies are upskilling existing talent or recruiting from other industries to fill the void, while others have intensified efforts to attract and

UK job market on its way to recovery after downturn, say recruiters

Billings for temporary staff dropped by the least since January