Indian job market remains unfazed by inflation, hiring increases by 29%

The Indian job market saw a 29 percent rise in the April-June period

August 25, 2022

Despite fears of rising inflation globally Indian jobseekers are not impacted, say reports

As per new reports, the Indian jobseekers are not adversely affected as far as their livelihood and expenses are concerned, with six in 10 jobseekers saying they have not been impacted much, despite fears of rising inflation globally. The Indian job market saw a 29 percent rise in the April-June period as compared to a 20 percent increase in the previous quarter.

Nearly 89 percent of employers also think that inflation will not change the way companies hire and pay employees, said the quarterly report by leading job site Indeed. Moreover, 37 percent of all jobseekers looked for a job or a job change during the quarter, as compared to 46 percent during the previous quarter.

“Sectors such as IT, healthcare, and e-commerce will continue to grow and with the advent of 5G, we will see a sharp rise in telecom jobs as well in the next few quarters,” said Sashi Kumar, Head of Sales, Indeed India.

As a response to inflation, employers looked at varied engagement modes during the quarter that could help them manage candidate expectations as well as costs such as a full-time, part-time, gig, or contractual work.

Jobseekers continue to prefer full-time work (63 percent) as opposed to part-time employment (26 percent) or gig/ contract employment (11 percent).

However, on the employer side, the difference is less disproportionate with over 19 percent of employers hiring gig workers during the quarter, the report said.

At a 10 percent salary increment level, which 41 percent of employers plan to provide to account for inflation, a significant 25 percent of the jobseekers seem to agree.

One in three IT/ ITeS sector jobseekers (33 percent) would like a 20 percent increment to compensate for inflation.

IT/ ITeS continued to lead all sectors, with 91 percent of the employers in the sector hiring during the quarter (83 percent in the previous quarter).

Metros dominated hiring among cities with hiring activity in Bengaluru, Mumbai, and Chennai exhibiting strong growth in hiring as compared to other cities. Chandigarh showed a substantial increase in hiring over the quarter

[With Inputs from IANS]

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