As per data from job site Indeed, new job postings for India have shown stabilization and a steady climb in the past month. As of early July, new job postings on Indeed India were growing 51% slower than in 2019 compared to 70% slower growth in May.
The trend in job postings was roughly in line with last year’s trend until the second week of March. The slowdown accelerated in the second half of March and through April to May 2020. reflecting lockdowns on economic activity. As of July beginning, job postings on Indeed India were growing 49% slower than in 2019.
However, the impact of COVID-19 has not been evenly spread across sectors. Some sectors, such as personal care & Home health, Delivery services are tracking to be less impacted as compared to Childcare and Hospitality and Tourism.
Also, as amid the coronavirus-led lockdown, cyberattacks targeting individuals and organizations have increased considerably, this has resulted in the growing demand for skilled cybersecurity professionals, with cyber security-based job postings increasing by 6%, while searches for various roles related to it grew by 30% from February to May 2020.
Sashi Kumar, Managing Director, Indeed India says “The situation continues to evolve, but we can say hiring in India is slowly getting better. As with every downturn, there has been a displacement of jobs, but this time new jobs have simultaneously been created. Jobs created within the shared economy have been constant, as people have the freedom to work flexible hours, and there has also been an unexpected boon for tech.”
The report notes that if this current trend continues then overall job postings will begin to improve, as new hiring activity more than replaces older job postings leaving the website. A similar trend was reported by the Naukri JobSpeak Index for June 2020 which marked an improvement of 33% in hiring activity as compared to May 2020. While Y-O-Y hiring is still impacted, key industries such as IT, BPO/ITES, FMCG, and Accounting have seen a significant uptick in hiring. Similarly, India Inc expects to start hiring blue-collar and entry-level workers with a spur in demand in hiring expected in Q3 2020, ahead of the festive season.