Comments
Hiring in India has been on a steady recovery, largely driven by people switching jobs rather than new entrants into the workforce, according to the latest Labour Market Update by LinkedIn.
Compared to the pre-Covid levels in 2019, hiring in July was around 65 per cent higher.
As per the report, hiring witnessed a deepening dip in April 2021, corresponding to a second wave of Covid-19 cases in India. Since then, it has been recovering steadily. Compared to pre-Covid levels in 2019, it was 35 per cent higher at the end of May 2021 and 42 per cent higher at the end of June 2021.
This is partly due to the shift in the hiring cycle in 2021 which was accumulated in July because of the lull in April.
"As large sectors such as IT, manufacturing, and hardware begin to ramp up hiring after a year of hiring freezes, we are hopeful that hiring will continue to grow," the report said.
Job switching up 59 per cent
According to the latest data, much of the recent labour market activity is being driven by people switching jobs and ‘reshuffling’ around, rather than new entrants into the workforce.
"We examined LinkedIn profiles for all members in the country and looked at what percentage of them were switching jobs since February 2019," it explained.
A huge drop in this activity was recorded when Covid hit, with the share of members changing jobs falling nearly 48 per cent in April 2020 when compared to the same time one year prior (which ties into the idea that people were "sheltering in job" during the pandemic).
This has been recovering since then, and reached 61 per cent more job transitions in March 2021 compared to the same time period in 2019. It has stabilised over the past four months, and as of July 2021 the share of India members changing jobs is nearly 59 per cent higher than the same period pre-Covid.
"Transitions from non-emerging to emerging roles are more common than one would expect," it further added.
As the economy continues to reopen and recover, attention is shifting to opportunities in new and emerging jobs and their role in the labour market. To understand movement into such roles, the report focused on eight different clusters of emerging jobs as defined by the World Economic Forum in their 2020 Future of Jobs Report.
In India, among the transitions into Data and Cloud professions, 54 per cent and 57 per cent of the shifts made are from non-emerging roles respectively. This was much lower than the roles in Sales (86 per cent), Engineering (73 per cent), Marketing (70 per cent) and HR (68 per cent).
"This suggests that such fields are easier to break into, while those such as Data and Cloud present more challenges," the report said.
The data also showed that the majority of transitions into emerging jobs came from non-emerging roles.
"These insights give us confidence that successful career pivots are the norm, rather than the exception, and that there are many opportunities for people looking to switch into emerging roles," it said.
"Over the coming decade, a non-negligible share of newly created jobs will be in wholly new areas, or existing areas undergoing significant transformations in terms of their content and skills requirements," it further added.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.