Page 5 - Job Market

Hiring expected to recover in 2024; likely to witness 8.3% growth: Report

The overall hiring this year is expected to grow 8.3 per cent this year with the job market showing signs of recovery in December, a report said on Thursday. December witnessed a 2 per cent growth in hiring, the foundit Annual Trends Report said. It projected an overall hiring expansion of 8.3 per cent for 2024, with Bengaluru expected to see an 11 per cent surge. Key sectors that will experience increased hiring include manufacturing, BFSI, automotive, retail, and travel and tourism, it said. According to the data from the foundit Insights Tracker (fit), hiring activity in 2023 was 5 per cent lower than in 2022, indicating a slowdown in the job market. However, the index also showed a 2 per cent increase in the last month of 2023, suggesting a possible turnaround in the hiring scenario. "The economy experienced a shift towards the end of 2023, breaking the previous trend that had been consistent since mid-2022. The job market entered a phase of variability, where both quit and hi

Tata Tech to provide skill development training for Telangana students

Tata Technologies has come forward to provide job-oriented industrial skill development training for students in Telangana at a proposed cost between Rs 1,500 crore and Rs 2,000 crore, the state government said on Saturday. Telangana Chief Minister A Revanth Reddy, who held a meeting with representatives of Tata Technologies here, discussed how to provide modern technology and train the youth to get more employment opportunities, a release from CMO said. The chief minister felt the need for introduction of modern courses in all government ITI (industrial training institute) colleges. Tata Technologies will provide required machinery, equipment and software for the establishment of 4.0 Skilling Centers (Industry 4.0 technology centres) along with maintenance in the state, it said. Revanth Reddy agreed with Tata Technologies' readiness to provide training in 4.0 industry based training courses like industrial automation, Robotics manufacturing, advanced CNC machine technicians, EV .

Focus on workforce boost in health sector considering global demand: Govt

The Indian health sector has a good image globally and the government is working to increase the workforce in view of growing demand, Union minister Bharati Pawar said here on Saturday. The Minister of State (MOS) for Health reiterated that there is no need to fear the JN.1 subvariant of coronavirus but states have been asked to be alert about its spread. Dr Pawar was speaking to reporters after reviewing OPD and IPD services, and government schemes like AB-PMJAY, and Jan Aushadhi Kendra at the AIIMS Nagpur. "India is progressing in all sectors globally. There is a lot of demand for Indian healthcare professionals across the globe. The Indian health sector has a good image. It is trusted and the demand for healthcare personnel is growing in many countries," the Union minister said. She said Indian nurses are in good demand in many countries including Japan. "Considering the demand for nurses, the Central government has started Japanese language courses in some Northeastern states,

Up & down the job rollercoaster: Highs for aviation & pharma, lows for IT

The game flipped in the second half of 2022, and in 2023, it has decisively turned in the favour of employers - more talent is now chasing fewer active IT jobs

Enough jobs exist for smart people: Info Edge's Sanjeev Bikhchandani

Bikhchandani said there is no funding winter for good companies, and there never was

The great employment question: Is the job market shrinking or transforming?

Latest PLFS shows unemployment rate fell to its lowest level of 3.2% in July-June 2022-23

Barclays working on $1.25 bn cost plan, could cut up to 2,000 jobs: Report

"This will be viewed as a net positive for investors, but we now need to see more detail on how long the benefits will take to appear," he said

10% fewer fresh formal jobs created in Apr-Sep period, shows EPFO data

Besides, the number of young subscribers belonging to the 18-28 age group declined by 9.54 per cent to 3.93 million this year from 4.34 million in the corresponding period last year

AI and the global job market

The AI-driven world may align more with the Keynesian hypothesis than Elon Musk's gloomy prophecy of no jobs

TMS Ep542: Job market, corporate governance, IT stocks, Operation Ajay

What explains the duality in India's job market? Are Indian family businesses serious about governance? Should investors buy the dips in IT stocks? What is Operation Ajay? All answers here

Most Indian employees confident about AI-led job growth in 1-5 yrs: Report

With Artificial Intelligence (AI) set to revamp India's recruitment landscape, 85 per cent of employers interviewed said they are expecting AI to create new jobs in 1-5 years, a report said on Thursday. Employers also believed that AI could improve the nature of employees' tasks (85 per cent) and improve job security and opportunities for career development for their employees (77 per cent), according to a report by global job site Indeed. A majority of jobseekers (63 per cent) also said that they were excited about the potential impact, with 53 per cent agreeing that AI is likely to create more jobs, it added. This report reveals that jobseekers are not only aware of the promise of AI but are also excited about its potential. It demonstrates that jobseekers are ready to embrace AI as a force for positive change in their careers. However, employers must work together to devise frameworks that allow the effective use of AI in order to facilitate technological advancement, Indeed Indi

IIM Lucknow bucks the job market trend, logs 100% summer offers

IIM Lucknow students secured 576 offers in diverse corporate roles

Amid dull job market, tech graduates enlist in boot camps to boost skills

The demand for boot camps in firms like Upgrad, Coding Ninjas, Scaler, Great Learning, and Newton School has risen by 2-3 times in the last 6-12 months

Parents tell children there's no going back: Police on suicides in Kota

When she first moved to the Chinese tech hub of Shenzhen after graduating from college, Marguerite Wang imagined she would spend her career working hard in a big city. Instead, she's living with her parents in her hometown in north-eastern China. A record of more than one in five young Chinese are out of work, their career ambitions at least temporarily derailed by a depressed job market as the economy struggles to regain momentum after its long bout with COVID-19. Wang, who was laid off from a gaming company in December, is among an estimated 16 million young Chinese who, daunted by the difficulties of finding decent jobs, have moved back home. She asked that her English nickname be used out of concern that speaking to foreign media might hurt her job prospects. After spending six months unsuccessfully applying for jobs in Shenzhen, the 29-year-old did something she had never imagined doing: she asked to move back home. Now she spends her days watching soap operas and studying ...

'How bad is the job market?': Applicants spooked, experts optimistic

A start-up receiving 3,000 job applications in 48 hours reflects how substantial the churn is

Remote working preferred by employees, helps cos attract talent: Experts

As remote working and flexible work arrangements take precedence over salary for a large number of jobseekers, experts see this as an opportunity to attract and retain talent. According to a survey titled 'The Job Search Process: A Look from the Inside Out', two thirds of respondents prioritise hybrid or remote working engagements. Also, 71 per cent of these respondents feel the freedom to work from home, setting flexible hours and taking breaks as needed were important factors in their job search. The survey based on responses collected from 1,810 individuals, including 561 employers and 1,249 jobseekers, was carried out by jobsite Indeed India. While 63 per cent of the jobseeker respondents registered their preference for hybrid working or a mix between working from home and office, 51 per cent of companies also reflected offering such flexibility in their operations. Annanya Sarthak, co-founder and CEO of Awign -- a job search application for gig workers -- said: "Today's ...

Hiring appetite positive for Jul-Sep quarter amidst layoffs: Survey

The Indian labour market is indicating positive sentiments for the July-September quarter of this year and businesses in the IT industry continue to report the brightest hiring outlook, a survey said on Tuesday. According to the ManpowerGroup Employment Outlook Survey of nearly 3,020 employers, the labour market is indicating positive sentiments in the third quarter of 2023 despite news of layoffs and anticipated global economic slowdown. As many as 49 per cent of employers report higher intentions for hiring, while 13 per cent do not expect to hire, leading to a seasonally adjusted net employment outlook of 36 per cent. When compared to the same period last year, hiring sentiments have declined by 15 per cent, while there is a 6 percentage points growth when compared to the last quarter. Globally, employers in all 41 countries anticipate a net positive hiring outlook, with Costa Rica topping the chart with a net employment outlook of 43 per cent, followed by the Netherlands (39 pe

Hiring slows down by 7% in May YoY, as companies cut expenses: Report

Hiring activities have slowed down by 7 per cent in May compared to the same month last year mainly due to companies adopting cautious approach to cut expenses on the back of economic slowdown, a report said on Thursday. Foundit (formerly Monster APAC & ME) released foundit Insights Tracker (fIT), presenting the latest findings on monthly hiring trends. The latest tracker indicates there has been a 7 per cent slowdown in hiring compared to the same time last year. However, despite the general decline, positive trends were seen in tier II cities like Ahmedabad and Jaipur. The tracker indicated that hiring activity is declining across all industries, with a 4 per cent month-over-month (MoM) decline. The report noted that this decline can be attributed to several factors like economic slowdown, which has forced companies to cut expenses. The significant skills gap in the country has also complicated employers' hiring process by making it challenging to locate qualified candidates, it

T'gana posts 31% growth in IT exports, adds 127,000 jobs during 2022-23

Telangana registered 31.44 per cent growth in information technology exports and added nearly 1.27 lakh new jobs during 2022-23, surpassing the expectations

Job search engine ZipRecruiter lays off 20% of global workforce

Job search engine ZipRecruiter has announced to reduce its global headcount by approximately 270 employees, which represents approximately 20 per cent of the company's total number of employees