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New Delhi, Leasing of industrial &amp; warehousing space fell 12 per cent during the July-September period to 6.2 million square feet across five major cities on lower demand in Delhi-NCR and Bengaluru, according to Colliers India. The leasing of industrial and warehousing space stood at 7 million square feet in the year-ago period. During the January-September period, the demand fell 4 per cent to 17.2 million square feet from 18 million square feet in the corresponding period of the previous year. According to Colliers data, the leasing of industrial &amp; warehousing space in Chennai jumped more than 3-fold to 1.8 million square feet during the July-September period from 0.5 million square feet in the year-ago period. The demand rose 60 per cent to 3.5 million square feet during the January-September period over 2.2 million square feet in the corresponding period in the previous year. In Mumbai, the demand jumped over 2-fold to 1.2 million square feet in the third quarter from 0.5 million square feet in the year-ago period. During the first nine months of this year, the leasing rose 48 per cent to 3.9 million square feet from 2.7 million square feet. The leasing of industrial &amp; warehousing space in Pune increased 22 per cent to 1.6 million square feet during July-September from 1.3 million square feet in the year-ago period. Pune saw a marginal rise of 1 per cent to 4.1 million square feet in January-September from 4 million square feet in the corresponding period of the previous year. In Delhi-NCR, the demand fell 76 per cent to 0.9 million square feet during July-September from 3.8 million square feet a year ago. The leasing fell 46 per cent to 3.7 million square feet during January-September from 6.8 million square feet in the corresponding period of the previous year. The demand for industrial &amp; warehousing spaces in Bengaluru was down 21 per cent to 0.7 million square feet in July-September from 0.9 million square feet in the year-ago period. The leasing declined 10 per cent to 2 million square feet during the first nine months this year as against 2.3 million square feet in the corresponding period of the previous year. The consultant said third-party logistic (3PL) players continued to dominate demand during the January-September period at 40 per cent share followed by engineering players garnering 17 per cent. At the same time, leasing by FMCG jumped over two-fold as they expanded their presence in key markets such as Delhi-NCR and Pune. The rise in leasing levels for the FMCG sector largely pertains to the spurt in consumption levels over the last two quarters, which is likely to continue in the last quarter as well, led by the upcoming festive season, it added.

Industrial, warehousing space demand falls 12% in September quarter in 5 cities: Colliers

<ul><li>Despite a 52% decrease in demand compared to the previous year, e-commerce retained its position as the second-largest employer. </li><li>Women's average monthly salaries were 20.5% lower than the industry average, except in manufacturing, logistics and mobility</li><li>Youth participation in employment declined by 8%, indicating a decrease in the number of young individuals entering the <keyword id="52626" type="General" weightage="20" keywordseo="workforce" source="Orion">workforce</keyword>. </li></ul>In the financial year 2022, i.e. the period between April 01, 2021, to March 31, 2022, there was a significant surge in demand for frontline workers as the economy reopened. However, the growth momentum slowed down in the financial year gone by (FY2023) due to macroeconomic challenges. According to the Frontline Index Report by BetterPlace, the total demand for <keyword id="15003035" type="General" weightage="20" keywordseo="frontline-jobs" source="Orion">frontline jobs</keyword> decreased by 17.5%. In FY 2023, India saw the creation of 6.6 million frontline jobs, down from the 8 million jobs created in fiscal before that. This report is based on data collected by the BetterPlace platform and analysed a sample of over 3 million data points, providing insights into various aspects of the frontline workforce in India, including <keyword id="6357342" type="General" weightage="20" keywordseo="hiring" source="Orion">hiring</keyword>, demand, attrition, migration, salary trends, and upskilling patterns. <cmsannotation type="cmsannotation" annotationid="E-commerce remains second largest employer" comment="Subhead" text="E-commerce remains second largest employer">E-commerce remains second largest employer</cmsannotation> In FY 2023, logistics and mobility took the lead as the primary employment sector for frontline workers, surpassing e-commerce in demand. This marked a significant shift, with logistics and mobility experiencing a 111% surge in total demand from FY 2022 to FY 2023. Meanwhile, IFM&amp;IT (information, financial services, marketing, and information technology) emerged as the fastest-growing industry, with a 139% increase in demand for frontline roles during the same period. Despite a 52% decrease in demand compared to the previous year, e-commerce retained its position as the second-largest employer, accounting for 33% of all jobs in the sector. <cmsannotation type="cmsannotation" annotationid="Participation of women doubles" comment="Subhead" text="Participation of women doubles">Participation of women doubles</cmsannotation> The participation of women in the workforce increased from 3% to 6% between FY22 and FY23, driven largely by changing family perceptions, with 88% of women feeling supported to work. However, women's average monthly salaries were 20.5% lower than the industry average, except in manufacturing and logistics and mobility, where they earned 36% and 20% more, respectively. Despite declining industry demand, e-commerce saw a 36% increase in demand for women frontline workers. Additionally, women frontline workers spanned various age groups, with 44% aged 20-30 and 37% aged 30-40. <cmsannotation type="cmsannotation" annotationid="Youth participation in employment decreases" comment="Subhead" text="Youth participation in employment decreases">Youth participation in employment decreases</cmsannotation> Over the transition from FY22 to FY23, there was a shift in the composition of the workforce. Youth participation in employment declined by 8%, indicating a decrease in the number of young individuals entering the workforce during this period. Conversely, there was a 25% increase in the participation of workers aged 30-40. Furthermore, it's worth noting that a majority, specifically more than 80%, of frontline workers exhibit a satisfactory level of education. Many of them have completed either their high school diploma or even pursued higher education, such as graduating from college or university. <cmsannotation type="cmsannotation" annotationid="Employees focus on upskilling" comment="Subhead" text="Employees focus on upskilling">Employees focus on upskilling</cmsannotation> In FY 2022, sign-ups for upskilling courses saw a 194% growth, which continued into FY 2023. The lower intent to hire in enterprises led to a an increase in the time employees spent on learning, up by more than 165% between April 2022 and March 2023. Furthermore, the Government's commitment to skill development during the budget season resulted in numerous enterprises investing in employee upskilling.

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Industrial, warehousing space demand falls 12% in September quarter in 5 cities: Colliers

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Job creation falls, so does youth participation

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