New Job Postings At An All-Time High: Indeed
Indeed, the world’s no.1 job site today revealed that the Indian labour market is witnessing a positive momentum as new job postings in India are seeing a record high number. New job postings in May 2022 saw over 33% growth above the pre-pandemic baseline (February 2020). This showcases the increase in demand for hiring across several industries.
Sashi Kumar, Head of Sales for Indeed India noted “People are returning to their offices, firms are resuming operations, consumption is increasing, and life is returning to normal. Majority businesses are confident in their ability to deal with future pandemic waves. It feels like the labor market recovery has really found its footing. Job growth continues to accelerate and more workers are finding jobs or starting to pick up their job search. Sectors tied to the reopening of the labor market are leading the way, giving some hope that these gains can continue in the months ahead.”
India’s job posting by occupation group on Indeed Demand for talent in India is elevated across multiple categories, although to a much greater extent in some occupations than in others.
Increase in job postings is strongest in Marketing (188%) as compared to the month of April 2022. This was followed by Civil Engineering (177%), Sales (72%) and Architecture (63%), rounding off the top 4 sectors in terms of increase in postings. The impact of COVID-19 has not been evenly spread across sectors. Some sectors, such as Beauty and Wellness (-57%) and Food Preparation and Service (-54%) continue to degrow. This is largely due to the fact that a majority of the roles in these sectors include in-person jobs which are yet to meet their pre-covid demand. When the pandemic began, marketing budgets were the first to get cut. However, last year, brands and companies have turned up the dial on customer demand for digital experiences which could have led to an increase in demand for marketing.
Overall job market and what’s in the future? The situation continues to evolve, but we can say hiring in India is getting better. High inflation is perhaps the biggest near-term challenge for the Indian economy and labour market. Rising inflation has been driven by higher business costs which could potentially impact the ability of some Indian businesses to pay higher wages or hire additional staff.
Overall job postings on the Indeed platform have increased by 38.6% since the onset of the pandemic, indicating an optimistic outlook for the rest of the year. Overall, India job postings have exceeded pre-COVID levels since September 2021
