Job supply in India is increasing and hiring trends are showing encouraging signs. According to the Labour Market Update for June 2021 by LinkedIn, hiring in the country is around 42 per cent above pre-Covid levels. The report highlights that there was a hiring squeeze in April 2021 amid the second wave of Covid-19 pandemic in the country.
However, hiring has been recovering at a steady pace. In June 2021, while it was 42 per cent higher, in May 2021 it was 35 percent higher as compared to pre-Covid levels of 2019. The report mentions the recovery in hiring is due to a release of pent-up hiring as companies had been cautious towards hiring in 2020 due to the COVID19 pandemic.
At the same time, a lot of aggressiveness has also been observed among applicants. Another increasing trend is also being witnessed in applications per applicant. As compared to last year applications per applicant has increased to 1.2 times. LinkedIn data suggests that applicants are actively seeking jobs.
Another important aspect which the report highlighted was about professionals who are more likely to get opportunities. According to report, professionals who upskill will find themselves with job opportunities from a wider spectrum.
The share of Gen Zs or people born between 1997 and 2012 entering the workforce pool has increased by 4.2 times during January 2018 and June 2021 Gen Z age group with software/hardware skills or disruptive digital skills are 1.3 to 1.5 times more likely to be hired as compared to those who have basic or applied digital skills, the report stated.