The continued and significant GDP growth has failed to enthuse the job market for the forthcoming half year, said TeamLease Services Ltd. in its latest Employment Outlook Report.
A worrying trend often seen in India is dissatisfaction from the current job due to lack of growth. If you are also one of them, Pune can be the best place to relocate to as it has better prospects for job growth, followed by Bangalore, Delhi and Chennai, says a study.
‘Jobs’ have become a major issue in India due to rising unemployment in the country with growing working age population. However, since job growth may also depend on location, these top four cities may give you better options to lead your career.
India is one of the fastest growing economies in the world, however, the emerging trends points in a different direction. The continued and significant GDP growth has failed to enthuse the job market for the forthcoming half year, said TeamLease Services Ltd. in its latest Employment Outlook Report.
Although the GDP for the past quarter increased substantially by 5 per cent for the fourth successive quarter, the net employment outlook for the October-March, 2018-19 period has reduced by a significant 3 per cent, said TeamLease Report.
While the net employment outlook improved for Pune, Bangalore, Delhi and Chennai in the last quarter of 2018-19 from October-March, the outlook declined for Ahmedabad, Mumbai, Kolkata and Bangalore, said the report.
Power and Energy, financial services, media and entertainment and education services showed lead the list of net employment outlook sector-wise, the construction, real estate, telecommunications, retail and IT cause a lag on the Net Employment Outlook, the report added.
Further, while the large businesses has reported a marginal increase of 1 per cent in outlook, the medium and small businesses reported a drop of 3 per cent and 1 per cent for the October-March, 2018-19 HY.
India’s working age population is expected to grow to over a 100 crore people by 2050, as estimated by the Regional Human Development Report of the United Nations Development Programme (UNDP).
The leaked NSSO report showing unemployment at 45- year high and CMIE reporting a loss of 11 million jobs in 2018, unemployment has become a major concern in India.