Page 6 - Job Market

Salary growth falls to 9% in FY23 led by agri, auto, BFSI sectors: Report

Job market experienced slower salary growth in 2022-23, as the overall increments decreased to 9 per cent from 10 per cent in the previous financial year mainly due to sectors including agriculture and agrochemicals, automobile and allied, BFSI among others, a report said on Tuesday. The overall salary growth has dipped in FY23 to 9 per cent compared to 10 per cent in 2021-22, according to staffing company Teamlease Services' 'Jobs and Salary Primer Report' for 2022-2023. Agriculture and agrochemicals, automobile and allied, banking, financial services and insurance, BPO and IT enabled services, construction and real estate, educational services, fast moving consumer durables, FMCG, hospitality, industrial manufacturing and allied, power and energy, ecommerce and tech start-ups, healthcare and allied industries and retail exhibited less than 9 per cent growth. The Teamlease Services Jobs and Salary Primer Report FY22, covered 403 employers and 357 unique employees across 9 hub citie

Overall job demand in IT sector falls 5% yearly in April, says report

White-collar job demand in April declined by 5 per cent compared to the same month last year with 2,715 job postings following a correction in hiring in the IT sector, a report said on Monday. Overall job postings on Naukri.com platform stood at 2,863 during April 2022, according to the Naukri JobSpeak Index. Active hiring in non-tech sectors such as real estate and BFSI (banking, financial services and insurance) mitigated the dip in IT sector hiring, the report added. The Naukri JobSpeak is a monthly index representing the state of the Indian job market and hiring activity based on new job listings and job-related searches by recruiters on the resume database on Naukri.com. It further revealed that the real estate sector spearheaded non-technology industries, witnessing a 21 per cent upswing in recruitment compared to the same month of the previous year. This growth predominantly resulted from an increase in new launches of residential and commercial properties across metropolit

India to witness less job churn in the next five years: WEF report

Report says social jobs grew at a slower pace than non- social jobs in India

Job aspirants from across country form collective for 'right to employment'

More than a hundred organisations including job aspirants' collectives have joined hands to form a youth alliance named 'Sanyukt Yuva Morcha' with an aim to shape a "nationwide youth movement" for employment, a member of the group said on Tuesday. The group said it will launch campaigns for a 'right to employment' as a legal guarantee for every adult, and will also fight for a basic minimum wage. The group will also demand filling up of all vacant posts in the public sector in a "fair and time bound manner." Bihar and Madhya Pradesh teacher aspirants, Uttar Pradesh police candidates, army and railway candidates, ASHA workers, and several other such groups have come together from over 22 states including Punjab, Tamil Nadu, Kerala, and Jammu and Kashmir to take the campaign forward, according to a statement by the group. Advocate Prashant Bhushan, who is backing the campaign, said that the group has the "potential to become a movement bigger than the Lokpal." "There is a lot of ...

India not prepared for full force of artificial intelligence adoption

Only 11% of jobs in India can be automated against global average of 18%, says Goldman Sachs' assessment of 30 countries

China job prospects, incomes plunge to new lows amid economic slowdown

But while economic activity is expected to eventually rebound, it's unclear how quick that will happen given the spread of infections and the weakness in confidence

Blue-collar industry sees sharp rise in job opportunities: Report

The blue-collar industry has witnessed a sharp rise in job opportunities in the country and tier 2 cities have become the epicenters for such opportunities, said a report. According to professional networking and jobs platform apna.co, blue-collared job opportunities more than doubled in India in 2022 and growth was also visible in all top metropolitan cities such as Bengaluru, Mumbai, and Delhi. "The emergence of tier-II cities becoming epicenters for opportunities has also been phenomenal. We believe that the evolving ecosystem of the rising workforce led by SMBs and MSMEs will become an integral contributor to the growth of the Indian economy," Manas Singh, Chief Business Officer of apna.co, said. The apna jobs platform recorded a 25 per cent increase in its employer base, which was majorly led by Small and Midsize Businesses (SMBs), and Micro, Small and Medium Enterprises (MSMEs) in 2022. Jobs posted by SMBs clocked a 60 per cent surge year-on-year. These emerging small busine

Layoff fallout: Outplacement firms have their hands full with flood of CVs

Tough trade-off: Companies want job guarantee for people they've laid off, but on a bargain

With jobs no longer secure, career cushioning is taking centre stage

Professionals and students striving to make themselves future-ready, future-proof

UK shows labour market slowdown with recession concerns rising: Survey

As a result, vacancies and the number of people placed in roles both rose at the slowest pace in more than a year and a half

UK unemployment hits lowest since 1974 but jobs boom is fading

However, the fall was not a sign of health in Britain's economy which is at risk of a recession

81% Indians believe their jobs can be done remotely, says survey

A whopping 81 per cent of employees in India believe that their jobs can be done remotely, according to a survey

Job demand stays flat in July amidst fears of global recession: Report

The report further revealed that tier-II cities are now frontrunners in hiring with Coimbatore and Ahmedabad, indicating growing demand for talent across segments.

Accolite to raise headcount in India by over three-fold to 8,500 in 3 years

Texas-based IT firm Accolite Digital plans to raise headcount by over three-fold in India to around 8,500 in the next three years, a top company official said.

Rapid transition to clean energy could create 15 mn jobs by 2025: Report

'India could witness eight dollars or 10 per cent reduction in per capita energy expenditure by 2025 when compared with business as usual scenario'

Gig jobs see surge in demand in sales and marketing across sectors

Quick commerce, healthtech, fintech and ecommerce are top sectors in Indian gig space

Job at hand: India far behind other nations in public sector employment

India is still far behind the US, China and others in public sector employment

Pakistan unemployment: 27.6% rise in people seeking jobs overseas

The Covid pandemic has given another blow to the opportunities for employment in Pakistan which is shrinking by the day.

China lockdowns, war risk derailing global jobs recovery, says ILO

China accounted for 86% of the dip in working hours due to containment measures to stop the spread of Covid, according to the report

Annual pay hikes near pre-Covid levels; to be around 8% this year: Report

Increments are yet to reach double digit hikes, it is heartening to see that the phase of salary de-growth and stagnation that have been hovering across the job market in last 2 years nearing its ends