Hiring activities increase in current quarter: Global recruitment specialists Michael Page report
The surge in hiring activities in the October-December quarter compared to the year-ago period is being led by the engineering and manufacturing as well as the technology sectors.
Hiring activities in the country are rising in the current quarter, reflecting improvement in the job market and signs of resilience, according to a report.
The surge in hiring activities in the October-December quarter compared to the year-ago period is being led by the engineering and manufacturing as well as the technology sectors.
See Zee Business Live TV Streaming Below:
The report was released by global recruitment specialists Michael Page and is based on its proprietary data for India.
The buoyancy in hiring activities reflect the increase in economic activities, mass vaccination drive carried out by the government in the last few months and ebbing of the second COVID wave, it added.
Non-IT sectors such as legal and human resources also witnessed a substantial increase in job opportunities in the third quarter of FY22.
"The current quarter has seen a 14 per cent increase in hiring. But looking at the larger picture, we are seeing an increase by over 50 per cent growth in job closures as compared to last year.
"The mega boost is the result of the post pandemic surge where hiring decisions are being made at a faster pace as there's a portion of backlog hiring that needs to be made up for," Michael Page India Managing Director Nicolas Dumoulin said.
He said this trend began in February-March this year when hiring became a lot more aggressive and has only increased quarter on quarter from January to September 2021.
"The appetite of companies to hire has grown due to an increase in investment and low debt levels. Globalisation and automation are steadily transforming India's labour market, putting a premium on the right skills and adaptability. Hiring volume and velocity remain positive and more action is projected in the months ahead," Dumoulin added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
08:29 PM IST