Chennai, NFAPost: There has been a significant hiring rebound in India, as the country started ‘unlocking’, and more people returned to work. Between early-April to end-June, hiring increased by 35 percentage points and in India, hiring declines reached a low of below -50% year-on-year in April, but it started to recover slowly, according to LinkedIn’s findings.
LinkedIn’s ‘Labour Market Update’, a monthly update on hiring trends and insights based on LinkedIn’s Economic Graph says that the hiring sentiment stands at -15% year-on-year as of the end of June.
The recovery is expected to remain fairly flat in the coming weeks. LinkedIn’s data also suggests that the gap between hires for males and females has narrowed from about 40 percentage points in February to around 30 percentage points in June. This trend is observed across all sectors except for Manufacturing, Finance and Software and IT.
The data shows that competition for jobs has doubled compared to six months ago. The average number of applications per job posted on LinkedIn increased from around 90 in January to 180 in June. Also, candidates are open to moving to other sectors as there are no jobs available in recreation, retail and travel sectors.
Compared to the pre-COVID period, data suggests that job seekers who are currently in the affected sectors like Recreation and Travel are 6.8 times more likely to look for jobs in a different sector, compared to pre-COVID times. Data suggests 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. Also, the demand for disruptive skills tops the charts in June 2020. The Labour Market Update also highlights roles that are in demand today and are expected to remain relevant in the near future. These roles have the greatest number of job openings on LinkedIn, have seen steady growth over the past four years, pay a liveable wage, and require skills that can be learned online.