Hiring soars in June after dip in April; but, economic uncertainty weighs down gains made so far: LinkedIn

By: |
August 17, 2020 4:49 PM

Hiring activities around the country started to pick up in June after a nosedive in April amid coronavirus lockdown. Between early-April to end-June, hiring increased by 35 percentage points.

Amid the pandemic, the gap between hirings for males and females has also contracted from about 40 percentage points in February to around 30 percentage points in June.

Hiring activities around the country started to pick up in June after a nosedive in April amid coronavirus lockdown. While India reported a fall in hirings at 50% decline on-year, in April, “Between early-April to end-June, hiring increased by 35 percentage points… The hiring sentiment stands at -15% year-on-year as of the end of June,” a LinkedIn report on ‘Labour Market Update’, said on Monday. However, in the coming weeks, the recovery is expected to remain muted as states start to impose fresh rounds of lockdown in the wake of rising coronavirus cases.

While the government had announced one of the strictest lockdowns in the world on 24 March 2020, it also started to ease lockdown restrictions in May for essential works to continue. The same was followed by a significant hiring rebound as the country started ‘unlocking’ and more people returned to work. However, with rising cases, the pace of recovery may not sustain for long and these gains are expected to slow down given the continued economic uncertainty.

Coronavirus bridges gender gap

Amid the pandemic, the gap between hirings for males and females has also contracted from about 40 percentage points in February to around 30 percentage points in June. The trend has been observed for all sectors with the exception of a few handfuls viz manufacturing, finance, and software and IT.

Competition heats up

Meanwhile, more and more people are applying for every job roles which has heated up the competition. According to LinkedIn findings, for every role, double the number of applicants are applying as compared to six months ago. The average number of applications per job posted on LinkedIn increasing from around 90 in Jan 2020, to 180 in June 2020. The number of those looking for a switch between sectors has also increased with employees from recreation and travel, and retail professionals more likely to look for jobs in a different sector as compared to pre-COVID period. They nearly seven times more likely to look for jobs in a different sector.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Amazon updates Echo Dot, Echo Dot with Clock and Echo smart speakers with new spherical design; India price starts at Rs 4,499
2Amazon updates Fire TV Stick with Dolby Atmos and HDR support; will ship October 15 at a price of Rs 3,999
3Amazon announces Luna game streaming service, its answer to Google Stadia and Microsoft xCloud