While the pandemic has brought a lot of bad news on the health front, news of job losses have also made headlines. The lockdown brought the economy to a grinding halt and that affected jobs to a large extent. Things have slightly improved with Unlock 1 and 2, but it will be a while before the job market is again at pre-pandemic levels.
Says Kamal Karanth, Co-Founder at specialist staffing firm Xpheno, “Unlock 2.0 opened with a slightly moderated enthusiasm in the organised job market, as compared to what was witnessed in 1.0. While June and early July saw a cleanup of some of the long-trailing job openings resulting in lesser active job counts, a slower top-up of new jobs only compounded the situation. An overall 35 per cent reduction in active openings over three-month period should be read in the context of a general slowdown in business activity across sectors.”
He adds that the total active job openings dropped from 200K in April to 167K in May and the closing figures for June was hovering at 132K. Early data indicators for July seem to point towards a climb to similar numbers as of May 2020. If the trend continues for rest of July and sustains for August, we will be possibly looking at the first V-shaped recovery graphs in the job market. We will have to wait a little longer to see if June 2020 was the true dip point in the jobs opportunities graph for now.
This story is from the August 2020 edition of Outlook Money.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the August 2020 edition of Outlook Money.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Tax Reforms: What's In Store?
The government is working on reforming the existing Income-tax Act, 1961. The impending reforms have raised many questions in the minds of taxpayers. Will the old regime and deductions be done away with? Will it really simplify your life? What's the need for these reforms? We try to answer these and other questions regarding tax reforms
5 Questions That Will Lead You To The Right Financial Planner
Choosing a financial planner is not as easy as it may seem. Besides the right credentials, you should also consider things like the kind of services you will be needing-tax advisory, estate planning-as well as the fee structure. Here are five questions that will help you choose the right planner
Health Insurance Sub-Limits
Sub-limits in health insurance are restrictions placed by the insurance company on the SP maximum amount they will pay for specific expenses that are part of the total hospital bill.
Delayed Gratification, Humility, Understanding Inflation And Risks Key To Financial Success
The journey to financial success is continuous, requiring patience, education, and disciplined decision-making.
Avoiding Common Pitfalls through Asset Allocation and Multi-Asset Investing
Just as you track the calories and nutrients for a well-balanced diet, you need a balanced portfolio that has multiple assets to balance the risks and returns.
Mutual Funds for Financial Growth
Mutual funds allow you to invest in small amounts and seize the compounding growth, and experts help tackle volatility and asset allocation, making them a potent tool to create wealth.
Multi-Asset Investing is The Financial Equivalent of A Well-Balanced Diet
Just as you track the calories and nutrients for a well-balanced diet, you need a balanced portfolio that has multiple assets to balance the risks and returns.
Theme and Triumph: How Thematic Funds Can Boost Your Bottom Line
Thematic funds target high-growth opportunities in various industries and economic sectors, allowing investors to participate in future-focused segments to generate long-term returns.
Wealth Creation Through SIP - The Slow & Steady Road to Success
For investors seeking to create long-term wealth, SIPS are a powerful tool that enables regular, disciplined investments to generate compounding returns.
Tuition Fee Varies Among Countries
I am 22 years old and have recently started working in a software company.