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Kids are trained from their childhood to study hard and settle down. Settle down here means a well-paying job and planning a family. Well, who does not need a well-paying job? The world is run through money as money gives power. Nowadays, there are paradigm shifts in which the person who has more money gets more respect and recognition in the society. People are becoming greedy day by day because they lust for money. And lust for wealth is not bad in this world when prices are skyrocketing. We all want to earn but the demand for employment opportunities is more than the industry can supply in India. 

Thus, employment prospects in any country are of utmost importance. Employment is the solution to cure poverty in the country, thus, fewer employment opportunities are the root cause of prevailing problems in the Indian economy. But the millennials have become pessimistic about the hiring dynamics of Industries and corporates. Some studies have shown that companies have succumbed the recruitment sentiments. Mental health issues have grown due to no income options for people. While scrolling through the LinkedIn feed, we have witnessed some posts in which people with 8-12 years of experience have also lost their jobs. 

With the corona outbreak, when everything is shut or operating with fewer employees, the situation is more detrimental. Here is an integrated view of the employment trends in India

  • The unemployment rate in India was 5.33% in 2018 and since then, the rate is increasing. In 2020, the unemployment rate rose to 5.4% according to Statista. In figures, there might be little changes but in a country like India with the second largest population, this slight variation could have an impact on a huge number of people. Not only this, but the unemployment rate in January 2021 was over 6% which shows that situation is getting worse day by day. 

  • A survey conducted by Ipsos shows that the consumer confidence index in job security was 18 in January 2020, 8 in March 2020, and 3 in April 2020. This shows that Indians were feeling less reliable for their job security as soon as corona’s outburst showed its impact. 

  • A study of the intentions of employers’ hiring on the basis of the education of employees was published by Statista research department which states that Engineers has highest hiring intent among the employers with 31% share as in 2020. The shares of other fields are listed below: 

Graduates                                    26%

Management                                17%

Postgraduate                                13%

Undergraduate                               8%

Polytechnic                                     3%

Industries training institutes         3%

  • Indian railways, telecommunications are the leading sectors with the highest revenues. Indian railways revenue is estimated to be INR 1.5 Trillion between the period 2001-2022. Revenue in the telecommunications sector is estimated to be INR 3.3 Billion between 1991-2018. 

  • Reliance industries disclosed over 195620 employees during the year 2020 with 24% women staff and 51% staff is aged below 30 years. The company is always on the top level to recruit fresh graduates and bring new talent on board. 

  • Other than that, the travel and tourism industry recorded over 87.5 Million employees on board during the fiscal year 2014-2019. The village industries recorded over 14.2 Million employees on board during the same period. 

  • India’s youth unemployment rate was 23.75% in 2020 in which the workforce age is between 15 years to 24 years. But the figures are less than the global equivalents which is a kind of relief.

  • In April 2020, 91 million small traders and laborers lost their jobs while on average, 119 million people lost their jobs including salaried personnel. There was a surprising addition of 5% workforce in the Agriculture sector as small workers returned to their villages after the imposition of lockdown. 

  • Impact of covid 19 on Employment opportunities according to the age group is stated below: 

  1. People of the age group 25-29 accounted for the sole loss of 46% of jobs across the country. 

  2. On average, people age 15-39 years were most impacted for job loss from April 2020 to July 2020. 

  3. The astonishing fact is that 9 million old people gained a job during this period despite the pandemic. 

  • The average labor productivity rate during 2013-2019 was 9.9% and mining and quarrying were the sectors with the highest labor productivity and the construction sector with the lowest labor productivity. 

Still, there is enough scope of getting employment in the trending top 15 jobs whose demand will increase in near future

1. Digital Marketing

2. Robotic Engineer

3. Actuarial Science

4. Cyber Security

5. Back-end Developer

6. Career Counselor

7. Data Scientist

8. Banking Career

9. Drone Operator

10. Dietician

11. Financial Planner

12. Event Manager

13. Interior Designer

14. Environment Management

15. Full-stack developer

Rishika Jain 2 years ago
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