Hiring activity improving; recovery in recruitment in non-tech sectors: Report
Recruitment activity in India witnessed an uptick in September and though competition for jobs is lower compared to several months ago, it is still 30 percent higher compared to a year ago, says a report.
According to LinkedIn's latest edition of the 'Labour Market Update', hiring recovery in India reached 30 percent year-on-year in September.
Findings from the latest edition show that hiring activity is improving and the digital divide is narrowing, suggesting a recovery in hiring for the non-tech sectors.
Earlier in the year, hiring declines reached a low of below (-) 50 percent year-on-year in April, before starting to slowly recover. In late July, it crossed the 0 percent mark and continued increasing, reaching 12 percent in August and 30 percent year-on-year at the end of September.
Hiring in September witnessed an 18 percentage points climb as compared to August 2020, the leading online professional network said, adding that "as businesses and companies continue reopening, we expect recovery to continue as well".
Moreover, job seekers who are currently in the badly affected sectors (such as Recreation & Travel) are 4.2 times more likely to look for jobs in a different sector, compared to pre-COVID time. But this stress has abated from June 2020, where the likelihood was as high as 6.8 times.
Similarly, the stress for the retail sector has reduced from 2.4 times to 1.1 times, it said.
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The 'Labour Market Update', a monthly update on hiring trends and insights, is based on LinkedIn's Economic Graph, a digital representation of the Indian economy built by conducting a close analysis of actions of more than 71 million members in India.
According to a report by Naukri.com , the retail segment, which has been badly hit due to the lockdown restrictions, is bouncing back gradually with an uptick in hiring of 15 percent in September when compared with the previous month.
(Disclaimer: Additional background information has been added to this PTI copy for context)