News: Indian job market shrinks by 20 percent

Talent Acquisition

Indian job market shrinks by 20 percent

The Indian job market continues to be in the grip of a drought. Leading recruitment and staffing consultants such as TeamLease, Kelly Services, Adecco and Randstad have seen a sharp slide in hiring compared with earlier quarters, which could mean a bleak year-end for those looking for a job as well as for placement agencies. According to these agencies, clients have not declared a hiring freeze but are very selective in their hiring. Among sectors, BFSI and IT have been severely affected while retail has also grown slowly. Consultants state that they are witnessing a 20-month low in hiring with permanent recruitment at least 15-20 percent lower as compared to the same period last year. The recent burst of reforms implemented in mid-September is yet to show in new hiring.

The Indian job market continues to be in the grip of a drought. Leading recruitment and staffing consultants such as TeamLease, Kelly Services, Adecco and Randstad have seen a sharp slide in hiring compared with earlier quarters, which could mean a bleak year-end for those looking for a job as well as for placement agencies. According to these agencies, clients have not declared a hiring freeze but are very selective in their hiring. Among sectors, BFSI and IT have been severely affected while retail has also grown slowly. Consultants state that they are witnessing a 20-month low in hiring with permanent recruitment at least 15-20 percent lower as compared to the same period last year. The recent burst of reforms implemented in mid-September is yet to show in new hiring.

Source: The Economic Times

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Topics: Talent Acquisition, #Updates, #Jobs

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