In the aftermath of the pandemic, Indian businesses have shown strong signs of resilience with job opportunities growing 14% in the third quarter of 2021 compared to the same quarter a year earlier, according to a report by recruitment firm Michael Page.
The increase in hiring is mainly attributable to the engineering and manufacturing sector as well as to the technology sector. While engineering and manufacturing saw a significant increase in employment, technology comes next with a 58% increase in employment opportunities.
Non-IT sectors such as legal and human resources also saw a substantial increase in employment opportunities, with employment increasing by 35% and 25% respectively in the third quarter of 2021 compared to the period a year earlier.
“This dynamism of hiring reflects the increase in economic activity and the mass vaccination campaign carried out by the government in recent months following the ebb of the second wave of Covid-19,” the report said.
“The current quarter has seen a 14% increase in hires. But overall, we are seeing a more than 50% increase in job closures compared to last year. The mega boost is the result of the post-pandemic outbreak where hiring decisions are made at a faster pace because there is a portion of the late hiring that needs to be caught up. It started from February to March 2021, when hiring became much more aggressive and only increased quarter to quarter from January to September 2021, ”said Nicolas Dumoulin, Managing Director of Michael Page India.
“The appetite of businesses to hire has increased due to increased investment and low debt levels. Globalization and automation are gradually transforming the Indian job market, emphasizing the right skills and adaptability. The volume and speed of hiring remain positive and other actions are planned in the coming months, ”added Dumoulin.
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