New employment in India set to increase 7.1% for H2
New employment in India set to increase 7.1% for H2
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New employment in India is expected to grow 7.1% for the period of October 2024-March 2025, higher than 6.3% growth seen during April 2024-September 2024, reports The Financial Express, citing research from TeamLease Services, the Indian staffing firm. The 7.1% uptick represents the collective outlook of 59% of employers planning to expand workforce while 22% plan to maintain their current staffing levels over the next five months.
Growth is expected to be driven by sectors such as logistics, EV (electric vehicle) & EV infrastructure, agriculture & agrochemicals, and e-commerce which are heavily investing in infrastructural and technological advancements.
Meanwhile, the report highlighted that there’s a geographical shift taking place in the job market. For instance, cities like Coimbatore (24.6%) and Gurgaon (22.6%) are becoming job hubs, representing a decentralisation of employment opportunities beyond traditional metros.
In terms of competencies, companies are not only looking to fill roles but are seeking specific skills that align with today’s operational and technological needs. New jobs for competencies such as problem-solving (35.3%), time management (30.4%), and after-sales service (28.4%) are becoming critical while existing jobs with competencies like communication (57.8%), sales and marketing (44.6%), and critical thinking (37.3%) remain essential.