Job market gains momentum, 8 million jobs created across sectors during FY 2022, reveals Avsar’s survey | The Financial Express

Job market gains momentum, 8 million jobs created across sectors during FY 2022, reveals Avsar’s survey

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.

Job market gains momentum, 8 million jobs created across sectors during FY 2022, reveals Avsar’s survey
Just approach the HR over mail and drop your resume with a cover letter, this is how you make your presence felt. (Representational image)

Post-Covid, India’s hiring outlook remains positive in 2022 – Avsar, a talent management firm, has revealed in a survey. Hiring in the past two quarters witnessed a significant spike and there have been 8 million jobs which were created across various sectors during 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 sector would continue to grow and would create maximum 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. The hiring in Tier 1 cities like Bengaluru, Delhi and Mumbai is projected to increase in the last quarter of 2022. Sales and business development has 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% 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 7million jobs by the year-end. It was observed that hiring activity in blue collared jobs flattened at 3% during the second quarter of 2022.

Also Read | Global jobs growth will ‘deteriorate significantly’ this quarter, says International Labour Organization

Avsar’s 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. 

Sharing about the survey, Navneet Singh, CEO of Avsar, said, “Post-Covid, the job market is gaining momentum in India. The hiring scenario seems progressive as jobs for both blue-collar workers and white-collar workforce are growing rapidly. All in all, hiring surged in the past two quarters of 2022 and this trend is expected to sustain its pace even in the year’s last quarter as well.”

“A mild recession might hit India next year and is expected to impact the white-collar workforce. However, we are hopeful that just like the pandemic, we will be able to sail through this roadblock as well,” he added.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

First published on: 02-11-2022 at 14:18 IST