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Fastest growth in eight key sectors, devise direct jobs

Pic Courtesy : WorldGattec

Reflecting the uptick in the economy, employment generation in the eight key sectors grew at its fastest pace in over two years during the first quarter of this fiscal, with more jobs being given to permanent category workers.

As many as 1,82,000 jobs were created in these eight sectors including textiles, IT and automobiles during April to June 2014, according to a quarterly survey by the labour ministry.

In contrast, 36,000 jobs were lost in these sectors in the quarter ended March 2014. The sharpest growth prior to this was in the quarter ended December 2011 when 2,26,000 jobs were added in these sectors.

Direct category jobs recorded a rise as opposed to contract jobs, reflecting a shift in businesses towards long-term plans. “Employment under the direct category workers has increased by 156 thousand during the period June, 2014 over March, 2014, at overall level,” the survey noted.

This is the first such reversal in six months as 60,000 direct jobs were lost in the previous quarter.
Private forecasters too have estimated an uptick in employment over the next few months based on the international trends and the domestic economy. HR consultancy Teamlease has forecast double-digit job growth in select sectors and in most cities.

Pic Courtesy : The Indian Express

“The improved macro economic conditions coupled with India Inc’s plans to ramp up capacity and enter new markets seems to be having a positive impact on the hiring sentiments,” it said in its Business and Employment Outlook for the second half of the fiscal.

Industrial activity has been slowly reviving and the economy grew at its fastest pace in two years in the first quarter of the fiscal at 5.7 per cent. The government is hopeful of the GDP growth of 5.8 per cent in 2014-15.

Meanwhile, the labour ministry survey revealed six sectors except handloom and transport saw hiring activity.

The maximum jobs (59,000) were created in textiles, followed by IT and BPO sector (51,000), and metals  (47,000). Another 7,000 jobs each were generated in leather and gems and jewellery sectors during the first quarter of the fiscal. Further, more jobs were given out in exporting units than non-exporting units during the period.

The Shimla-based Labour Bureau conducts a quarterly survey of eight employment intensive sectors including textiles including apparel, leather, metals, automobiles, gems and jewellery, transport, IT/BPO, handloom and powerloom.

The surveys were started in January 2009 to assess the impact of the global financial crisis, but have now been converted into a quarterly survey on employment.

-Author Surabhi , New Delhi for The Indian Express

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Fastest growth in eight key sectors, devise direct jobs


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