Eight key sectors see fastest employment growth, create direct jobs

By: |
New Delhi | November 1, 2014 12:53 PM

As many as 1.82L jobs were created in eight sectors, including textiles, IT and auto during April to June.

Private forecasters too have estimated an uptick in employment over the next few months based on the international trends. (Reuters)Private forecasters too have estimated an uptick in employment over the next few months based on the international trends. (Reuters)

Reflecting the uptick in the economy, employment generation in the eight key sectors grew at its fastest pace in over two years during the first quarter of this fiscal, with more jobs being given to permanent category workers.

As many as 1,82,000 jobs were created in these eight sectors including textiles, IT and automobiles during April to June 2014, according to a quarterly survey by the labour ministry.

In contrast, 36,000 jobs were lost in these sectors in the quarter ended March 2014. The sharpest growth prior to this was in the quarter ended December 2011 when 2,26,000 jobs were added in these sectors.

Direct category jobs recorded a rise as opposed to contract jobs, reflecting a shift in businesses towards long-term plans. “Employment under the direct category workers has increased by 156 thousand during the period June, 2014 over March, 2014, at overall level,” the survey noted.

This is the first such reversal in six months as 60,000 direct jobs were lost in the previous quarter.

Private forecasters too have estimated an uptick in employment over the next few months based on the international trends and the domestic economy. HR consultancy Teamlease has forecast double-digit job growth in select sectors and in most cities.

“The improved macro economic conditions coupled with India Inc’s plans to ramp up capacity and enter new markets seems to be having a positive impact on the hiring sentiments,” it said in its Business and Employment Outlook for the second half of the fiscal.

Industrial activity has been slowly reviving and the economy grew at its fastest pace in two years in the first quarter of the fiscal at 5.7 per cent. The government is hopeful of the GDP growth of 5.8 per cent in 2014-15.

Meanwhile, the labour ministry survey revealed six sectors except handloom and transport saw hiring activity.

Job-report

The maximum jobs (59,000) were created in textiles, followed by IT and BPO sector (51,000), and metals (47,000). Another 7,000 jobs each were generated in leather and gems and jewellery sectors during the first quarter of the fiscal. Further, more jobs were given out in exporting units than non-exporting units during the period.

The Shimla-based Labour Bureau conducts a quarterly survey of eight employment intensive sectors including textiles including apparel, leather, metals, automobiles, gems and jewellery, transport, IT/BPO, handloom and powerloom.

The surveys were started in January 2009 to assess the impact of the global financial crisis, but have now been converted into a quarterly survey on employment.

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
1UPSC CSE 2019: Final marksheet released, topper Pradeep Singh secures 1072 out of 2025
2Path to Revival: Strong demand for blue-collar workers, full-time jobs on offer
3TCS to recruit 10,000 staff in US by 2022