Opinion

Jobless Growth a Myth! Naukri.com sees a hike in hiring activity of 16%

The easiest way to target the government is by saying that jobs are not being created because no one has actual and definite figures to counter the allegation, and because considering the huge population you’ll always see someone or the other struggling to find a job. But this ‘jobless growth’ is a myth and can be negated by true numbers.

V Suresh, Chief Sales Officer, Naukri.com, says, “The Jobspeak Index has shown 16% year-on-year growth in November, primarily driven by growth in the non-IT sector. Good to see sectors like construction, engineering, auto, industrial products and banking showing significant growth over last year. We can expect the market to further gain momentum and move north in the next few quarters.”

Industry-wise, jobs in construction/engineering industry went up 46% while jobs in auto sector saw a growth of 39% in November this year over November 2016. Jobs in heavy machinery and banking sector saw a growth in hiring of 30% and 24%.

Eight metro cities were tracked and seven showed increase in hiring activity. The biggest positive was that smaller cities also showed positive trend in hiring. The index for Kolkata grew 51% while Delhi NCR and Mumbai saw growth of 15% and 16% respectively. Surprisingly Bangalore saw a dip of 3%.

In terms of experience bands, entry level job seekers having 0-3 years of experience and senior roles with experience requirement of more than 16 years increased 21% in November this year as compared to November 2016.

This growth has been driven by non-IT sectors which is a major positive for the country as it indicates more holistic development and growth.

A report in September 2017 said that the Mudra Yojana started by the government has generated a whopping 5.5 crore jobs with industrialised states like Karnataka, Tamil Nadu and Maharashtra being the biggest beneficiaries. Till September, Rs 3.42 lakh crore loanswere disbursed to over 8 crore people under the scheme, mostly small entrepreneurs.

A report by the Economic Research Department of the SBI earlier this year showed that unemployment had halved in a matter of just 7 months. It was 9.5% in August 2016 and it fell to 4.8% in February 2017.

Placements at top universities such as IIT’s is also on the upswing. For instance, in early December this year, IIT Delhi had registered over 17% increase in post graduate placements and 10% increase in overall placements till day 10.


Vinayak Jain

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