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Is There Such a Gloom in Job Market as Some People Fret on Social Media?

If you only go by the hashtags on social media that demand jobs from PM Modi, you get a sense that the doors of the job market for the salaried people are yet to open after the pandemic. But the reports suggest the picture which is different. Though, for the labour market, the road of recovery yet to get pace, the openings for the salaried people have already opened up.

According to CMIE (Centre for Monitoring Indian Economy) the unemployment rate in February is at 6.9 per cent, lower than the average since July at 7.3 per cent.

Though it is not a major point of celebration, there are other reports emerging since the beginning of this year that show more than a path of recovery.

A report from moneycontrol back in January notes that Tata Consultancy Services hired 15,721 individuals in the December quarter, while Infosys announced campus placement for 24,000 freshers. Aditya Birla group and Tata Projects are also looking to hire in big numbers.

Another report in The Financial Express in January 2021 had noted that small businesses and startups are looking to hire people. The reports noted that “While 19 per cent of small businesses are likely to hire people during the January-March quarter of the financial year 2020-21, up from 13 per cent during Q3, the percentage of medium-sized employers looking to hire manpower has also increased from 15 per cent during Q3 to 19 per cent during Q4, according to the TeamLease’s latest Employment Outlook report that surveyed 429 small, 261 medium, and 125 large businesses.”

There is another favourable prediction for those already working in the corporate sphere. According to a report in The Economics Times, one can expect a better salary hike this year.

Perhaps, people on social media who just fret about jobs may not be skilled enough to grab the emerging opportunities.

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