India, the world’s largest democracy and fifth-largest economy, has long been a hub of diverse economic activities. Despite grappling with the challenges posed by the Covid-19 pandemic, the country maintains its status as the fastest-growing economy globally.
The current unemployment rate in India stands at approximately 7.7%, similar to last year but significantly lower when contrasted with the alarming 23.5% rate observed at the onset of the pandemic, showcasing the resilience of the Indian economy.
The country showcases strong employment prospects, particularly in key sectors across Asia. Leading the hiring trends are the finance and real estate, healthcare and life sciences, information technology, transport, logistics, and automotive industries. In contrast, the communication services, energy and utilities, and consumer goods and services industries exhibit lower hiring activity.
India stands out among Asia-Pacific nations, securing the fifth position in global rankings for the most positive hiring outlook in the July-September quarter, as indicated by the Manpower Group Employment Outlook Survey. However, Australia precedes India in this ranking, indicating a robust hiring sentiment in the region.
The Asia-Pacific region, as a whole, demonstrates a positive inclination towards hiring, with employers anticipating a growth in headcount by 31%.
While this reflects an improvement from the previous quarter (+4%), there is a slight decrease year-over-year (-1%). This signals a cautiously optimistic stance as the region navigates through the ongoing economic uncertainties.
However, recent data from the November ’23 Foundit Insights Tracker shows a 2% decrease in hiring compared to the previous month and a 10% decline year-on-year in India’s job market.
この記事は Beyond Market の December, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Beyond Market の December, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
PRUDENT PRACTICES
Banks worldwide navigate a complex balancing act, steering economies toward growth while safeguarding financial stability through thoughtful management of interest rates and credit risks
RETAIN ROULETTE
Inexperienced investors spin the market wheel, chasing dizzying valuations and risking a bubble burst
UNRAVELED THREADS
Bangladesh's crisis disrupts global textiles, offering India a potential opportunity, but production constraints limit its gains
PASSING THE BATON
Succession planning helps ensure uninterrupted leadership
RISKY BUSINESS?
SEBI's efforts to protect retail investors from derivatives market risks could inadvertently dampen market volumes
INFLATION-PROOF YOUR CHILD'S FUTURE
Inflation might be stealing your child's future, but children's mutual funds can be their superhero
EMBRACE UNCERTAINTY, SAYS MARKS
Howard Marks urges investors to embrace uncertainty, long-term thinking, and focus on controllables, shunning in his memo “The Folly of Certainty”
IMPORTANT JARGON
70% OF INDIVIDUAL INTRADAY TRADERS IN THE EQUITY CASH SEGMENT MAKE LOSSES, FINDS SEBI STUDY
AN ASCENT T'O NEW HEIGHTS
The IMF predicts India's economy to reach 55 trillion by 2047, driven by various economic indicators showing positive growth and government initiatives
CARRY TRADE CRASH: GLOBAL MARKETS REEL
Japan’s Policy Shift Sends Shockwaves Through Global Markets, Including India, as Yen Carry Trade Disintegrates