India saw a significant hiring rebound in June as the government 'unlocked' the economy and more people returned to work. However, the pace of these gains are expected to slow down as some states reimposed lockdown in wake of rising coronavirus cases.
Between early-April to end-June, hiring increased by 35 per cent in India, according to LinkedIn's monthly update on labour market. At the end of June, the hiring sentiment stands at minus 15 per cent year-on-year as against a record low of below minus 50 per cent year-on-year in April.
The survey report, however, warned that the recovery may remain fairly flat in the coming weeks as some states continue lockdown measures again amid rising risks of second-wave of infections.
Given the uncertainty about the economy, competition for jobs has doubled compared to 6 months ago, with the average number of applications per job posted on LinkedIn increasing from around 90 in January 2020, to 180 in June 2020.
Compared to the pre-COVID period, data suggests that job seekers who are currently in the affected sectors (such as recreation and travel) are 6.8 times more likely to look for jobs in a different sector, compared to pre-COVID times. Data also indicates that those in the retail sector are 2.4 times likely to apply for a job in a different sector. The analysis looks at how job seekers in different industries are adapting to changes and adjusting their jobs search strategy.
As per the report, the hirings gap between males and females has narrowed from about 40 per cent in February to around 30 per cent in June. This trend was observed across all sectors except for manufacturing, finance, software and IT.
The report highlighted the roles that are in demand today and are expected to remain relevant in the near future.
By Chitranjan Kumar
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