The number of open job positions in India accepting applications for white-collar professionals in November stood at approximately 295,000, down from 320,000 in October (down 8%), as the last 15 days of November saw a 12% fall in hiring numbers compared with the first half, reports The Economic Times, citing data from LinkedIn and top company job boards put together by specialist staffing firm Xpheno.

The 8% drop in hiring volume for the month of November could be attributed to a combination of factors such as a regular fall in hiring action typically witnessed towards the end of the year as well as a temporary knee jerk reaction to resurfacing of infections and a spike in Covid cases in Europe and the US, combined with volatility in the trading markets. However, job market experts continue to be optimistic even while they are cognisant of the possibilities of further waves of the pandemic. Companies are keeping a close eye on developments related to the recently reported coronavirus variant, Omicron, which is seen posing a high risk of infection surge around the globe by the WHO.

HR leaders, economists and company executives said the future of the white-collar market in India remains bullish as organisations chart out future roadmap amid continued optimism from robust economic growth projections, rise in consumption, new capex (capital expenditure) cycle in many sectors, and increasing vaccination coverage. "Given the buoyancy in hiring action witnessed over the last two quarters, the drop in volume in November is comparatively minor and could well pass by as a blip in the radar," said Kamal Karanth, cofounder, Xpheno.