Job market gained momentum in 2022!

A survey revealed that post-Covid, India’s hiring outlook remains positive in 2022. Hiring in the past two quarters witnessed a significant spike and there have been 8 million jobs were created across various sectors during the fiscal year 2022. The study also states that this trend is expected to sustain its momentum in the year’s last quarter as well.

Highlighting the progressive white-collar employment scenario, the report states that sectors such as tech, pharma, and BFSI have been the highest job generators so far. It is expected that the IT, financial and Industrial sectors would continue to grow and would create a maximum number of jobs during the last quarter of 2022. The survey also shares that Pune is leading the job generation market this year with a 78.11% employment rate followed by Lucknow and Trivandrum at 74.32% and 64.48% respectively.

Hiring in Tier 1 cities like Bengaluru, Delhi, and Mumbai is projected to increase in the last quarter of 2022. Sales and business development have been the highest job creator with 26.9% and IT/ITES created 20.6% employment followed by the marketing sector with 9.9%. Furthermore, the survey hints that a mild recession is expected to hit India in 2023 which will impact the country’s white-collar workforce.

The study also shares that blue-collar hiring is growing rapidly this year as 22.9% of jobs were created across delivery and retail segments. Due to the festive season, the demand for blue collared workforce increased and hiring is projected to surge by 7 million jobs by the year-end. It was observed that hiring activity in blue-collared jobs flattened by 3% during the second quarter of 2022.

The survey also states that the majority of the organizations moved away from the work-from-home concept in the second quarter of 2022. However, many firms are still continuing the remote working culture due to the demand of their workforce. Out of the 10,000 employees surveyed, 97% prefer either working from home or a hybrid model with at least 2 days of remote working. Only 3% of the respondents wish to work from the office. A mild recession might hit India next year and is expected to impact the white-collar workforce. However, everyone is hopeful that just like the pandemic, they will be able to sail through this roadblock as well.

Community Manager.

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Hi Kaulin,

This surveys is creating a positive feeling in the job market.

But the statement of a “mild” recession expecting to hit in 2023 is not at all good. Since recession is already bad though how mild it maybe described. Hope this will not happen, not to India and not to any country. :slight_smile:

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Yes, definitely very bright news for the job market especially for a country like India and I hope that a recession ever comes.

Community Manager.