Hiring is on a slow rise in India, but the numbers are nowhere close to pre-COVID levels

• According to Naukri.com’s JobSpeak Index, hiring activity saw a 5% month-on-month increase in July, but is still 47% lower than what it was in July 2019.
• The demand for freshers seemed to be the worst hit as entry-level jobs saw a 51% year-on-year decline.
• Here’s how each sector registered hiring activity in July 2020.
  

When the coronavirus pandemic began, a cloud of uncertainty spread around the world, and as businesses began getting impacted, hiring froze, and job cuts began. Now, six months into the pandemic, the economy is a slow path to recovery, and so is the hiring spree. However, the numbers are still far from hitting pre-COVID levels, which means companies continue to remain cautious.

According to Naukri.com’s JobSpeak Index, hiring activity saw a 5% month-on-month increase in July, but is still 47% lower than what it was in July 2019.

However, the demand for freshers seemed to be the worst hit as entry-level jobs saw a 51% year-on-year decline.

“July marks marginal recovery in month-on-month hiring activities. Industries such as Recruitment /Employment, Media/Entertainment, and Construction/Engineering bounce back with positive signs in hiring month-on-month as lockdown restrictions are eased further. It is interesting to see emerging cities leading the way in job market recovery versus metros which are declining by more than 50%.,” said Pawan Goyal, Chief Business Officer, Naukri.com in a statement.

Interestingly, the education sector, which saw an uptick in hiring throughout the lockdown phase, saw a fall in hiring on a monthly basis in July.

According to the survey, here’s how the different sectors fared

Naukri.com’s JobSpeak Index: Hiring Activity




SEE ALSO:

Amazon’s entry in food delivery is a speed bump on Zomato and Swiggy’s race to profitability, says report