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Job creation in the country witnessed a decline in the month of May with an overall 2% decrease in the number of new jobs posted on the job search website SCIKEY. However, there were large sectoral variations with the IT sector bouncing back from the pandemic’s effect quickly to witness a growth in job creation.
On the other hand, the number of new jobs declined steeply in sectors like retail(16%) banking(12%) and FMCG(12%) during the previous month.
The data points were revealed through new jobs posted on SCIKEY’s job portal along with research conducted by SCIKEY Market Network on the basis of 10,000 new job postings in the country.
With the increased adoption of digital technologies and remote work across different sectors, the demand for job positions like software developer, cloud and data engineer and DevOps increased by 12-16% in May 2021. A 5% growth in jobs was also witnessed in the insurance sector, possibly due to an increase in the number of customer claims in the wake of the spread of the COVID-19 pandemic. Meanwhile, job profiles like site engineering, sales, marketing, human resources and finance & project manager saw an almost flat demand.
In terms of seniority level, the mid-level executives(8-12 years experience) and leadership roles(>16 years experience) witnessed a 5% and 2% increase in job postings respectively. Freshers and those with less than 3 years of experience continued to struggle with a 4% decline in job postings in the month of May.
According to Karunjit Kumar Dhir, co-founder of SCIKEY, tech jobs are in high demand due to large competition and increased demand for “digital technology-led projects.” He is hopeful that job creation will gradually increase in other sectors as well. “The economy is gradually boosting with the unlock measures and increased mobility,” he explained.