After a year-long hiring freeze, Jobs market in India is now improving slowly and steadily! According to the LinkedIn India - Labour Market Update (July 2021), India's job market is witnessing a steady recovery on the hiring activity.
As per the report, due to the second wave of COVID-19, job market saw a hiring slowdown in April 2021. But, since then, it has been recovering steadily. The reports said that this year in May the hiring rate was 35% higher, in June around 42% higher, and in July was around 65% higher than the pre-COVID level.
Hiring rate will continue to grow as large sectors such as IT, manufacturing, and hardware begin to ramp up hiring after a year of hiring freezes, the report said. The report also mentioned that much of the recent hiring activity is being driven jobs switches rather than new entrants into the workforce.
As the India’s economy is gradually growing, people are shifting to new opportunities or emerging jobs and their role. However, during the pandemic, India's job market saw a huge drop in people switching jobs, with the share of members changing jobs falling nearly 48 per cent in April 2020.
Thereafter, it has been recovering slowly and reached 61% more job transitions in March 2021. And, compared same period in pre-COVID time, switching jobs rate was 59% higher at the month end of July 2021, the report said.
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