Page 4 - Job Market

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

E-commerce, BFSI, hospitality sectors driving job market in 2024: Report

E-commerce, BFSI (banking, financial services, and insurance), and hospitality sectors witnessed an increased demands for talents in the first four months of 2024, indicating a recovery in overall job market, a report said on Thursday. Driven by economic recovery, the demand for workforce in BFSI increased the maximum by 21 per cent during the first four months of this calender year. The e-commerce sector saw an increase of 17 per cent, services and hospitality industries reported a growth of 13 per cent, according to a report by professional networking platform Apna. The report is based on the data on Apna platform during 2023 and 2024. It also found that the job market in the southern part of India saw a growth of 23 per cent compared to 18 per cent last year, with cities like Hyderabad, Bengaluru and Chennai leading in terms of total number of job postings. The adoption of digitalisation is becoming increasingly evident in tier II and III cities like Lucknow, Coimbatore, and ...

India must create 115 mn jobs by 2030 as more people enter workforce: Study

"To achieve this herculean task, India's growth engine needs to fire on all cylinders, from manufacturing to services in the next five years," research note read

PM Modi's guarantees 'not delivered', 83% youths jobless, says TMC

Alleging that Prime Minister Narendra Modi's guarantees on various issues had not been delivered, senior Trinamool Congress leader Amit Mitra on Sunday claimed that 83 per cent of jobless people in the country are youths. Mitra reiterated his party's stand that the TMC is with the INDIA alliance, stating that Congress president Mallikarjun Kharge's rebuff to senior party leader Adhir Ranjan Chowdhury and his retort is their internal matter. "Around 83 per cent of the jobless people in the country are young men and women," Mitra, a former Finance minister of West Bengal in Mamata Banerjee's cabinet, claimed at a press conference here. "Two-thirds of the educated young men and women are unemployed," he said. Claiming that the Skill India programme of the NDA government for preparing skilled manpower has not borne the desired fruits, he alleged that only around 4 per cent of the country's youth are getting vocational training. Alleging that PM Modi's guarantees on various issues have

Job market squeeze in UK eases in April, permanent hiring down: Survey

For months the REC survey has painted a weak picture on hiring and pay for newly employed workers that has mostly not carried over to official measures of the broader labour market

Efficient job market

Gainful job creation remains a challenge

India moved fewer people to non-agri jobs than most neighbouring nations

Change in employment ratio is also worse than its key peers

Over 30 million jobs created in real estate sector in 10 years: Report

Employment in the Indian real estate surged to 7.1 crore in the last calendar year from 4 crore in 2013, driven by healthy growth in the housing segment supported by several policy reforms by the Modi government, according to a joint report by Anarock and NAREDCO. Real estate consultant Anarock and realtors' body NAREDCO on Monday released a report 'Real Estate Unboxed: The Modi Effect', which stated that Indian residential real estate market has greatly benefited from several reforms by the Modi-led government, helping the industry to not only to emerge stronger but also to scale new heights. The real estate sector accounts for more than 18 per cent of the total workforce in the country. India's top seven primary residential markets witnessed a combined housing supply of 29.32 lakh units and sale of 28.27 lakh units between 2014 and 2023. Unsold inventories have dropped because of higher sales velocity, while many stalled projects have been revived with the help of the ...

Info Edge reports increase of 3.5% in Q4 billings to Rs 827 crore

Job portal Naukri.com parent firm Info Edge has reported a 3.5 per cent increase in billings of the company to Rs 826.9 crore on a standalone basis in the fourth quarter ended March 31, 2024, the company said in a regulatory filing. The billings of the company stood at Rs 748.6 crore in the same period a year ago. Recruitment Solutions billing grew by 7.18 per cent during the quarter to Rs 625.4 crore from Rs 583.5 crore in March 2023 quarter. The billings of real estate arm 99acres grew by 26.42 per cent to Rs 131.1 crore during the reported quarter from Rs 103.7 in the corresponding quarter a year ago. For the year ended March 31, 2024, the standalone billing of the company increased by 5.47 per cent to Rs 2,495.9 crore from Rs 2,366.3 crore in 2022-23. The biggest contributor to the company's billing, Recruitment Solutions, grew marginally to Rs 1883.2 crore during the reported fiscal from Rs 1,858.7 crore in fiscal year 2023. Real estate platform 99acres' billing grew by abou

Improving hiring expectations, investment gains positive for Info Edge

Naukri continues to be the market leader among recruitment portals with a database of over 95 million and a 70 per cent traffic market share in the segment

92% recruiters expect new, replacement hiring in first half of 2024: Report

Indian white-collar job market is expected to witness optimistic hiring sentiments during the first half of this year, with 92 per cent of recruiters expecting either new or replacement hiring in the first six months of 2024, a survey said on Friday. Naukri's Hiring Outlook Survey is a bi-annual survey conducted amongst 1,200 recruiters and recruitment consultants across sectors pan-India. "Reflecting on our recent Hiring Outlook findings, it's encouraging to see that 92 per cent of recruiters remain optimistic about new and replacement hiring in the first half of 2024. Coupled with anticipation around hiring trends returning to normalcy, the overall hiring outlook, while calibrated, seems to be stable and balanced," Naukri.com Chief Business Officer Pawan Goyal said. The survey further showed that despite challenges in the IT sector, a majority of recruiters still anticipate that IT roles will dominate hiring activities. This is attributed to significant IT recruitment taking plac

Hiring spree: US companies added 140,000 jobs in February, shows ADP data

Private payrolls increased by 140,000 last month after a 111,000 gain in January, according to figures published Wednesday by the ADP Research Institute in collaboration with Stanford Digital Economy

Chinese firms step up hiring, wages remain sluggish amid high competition

China resumed publication this year, excluding college students from the data, to put youth unemployment at 14.9% in December

Fresh formal jobs created last year fell nearly 10%, shows EPFO data

EPFO data shows 10.78 mn new users joined compared to 11.93 mn in 2022

ESIC adds around 1.88 mn new members in Dec, 47% youth, shows govt data

Employees' State Insurance Corporation (ESIC) added 18.86 lakh new members in December 2023, according to provisional payroll data released on Thursday. Around 23,347 new establishments were registered and brought under the social security umbrella of ESIC in December, ensuring more coverage, the labour ministry said in a statement. The data shows that more jobs were generated for the youth during the month as out of the total 18.86 lakh employees added, 8.83 lakh, constituting 47 per cent of the total registrations, were up to the age group of 25 years. The net enrolment of female members was 3.59 lakh in December 2023, according to the data. A total of 47 transgender employees were registered under the ESI Scheme in December. It also shows that ESIC is committed to delivering its benefits to every section of society, the ministry stated. The payroll data is provisional since the data generation is a continuous exercise.

SAP to restructure 8,000 jobs in push towards AI, shares hit record

The company said it will spend 2 billion euros ($2.2 billion) on the programme to either retrain employees with AI skills or to replace them through voluntary redundancy programs