Technology hires rebound in May; overall labor market still weak, report says, Telecom News, ET Telecom

Hires across all industries fell in May, although the tech industry labor market rebounded from the pandemic-induced downturn as many tech companies were booming, according to a report.

There was a 2% drop in the total number of new job postings in May on the SCIKEY Market Network, a job board, including in industries like banking with a 12% drop, selling to retail 16% and FMCG 12%, while there was a 5 percent growth in the insurance industry.

However, data revealed that there was a high demand for jobs such as software developer, DevOps, cloud and data engineer, which grew 12-16% in May.

Other profiles such as sales, marketing, site engineering, human resources, finance and project manager saw steady demand, the report added.

The data was collected using the SCIKEY Job Portal and market research conducted by SCIKEY Market Network based on over 10,000 job postings across India.

The data also indicated that the hiring of mid-level executives with 8 to 12 years of experience and managerial positions (over 16 years of experience) increased by 5% and 2%, respectively.

However, the hiring of entry-level professionals (0 to 3 years of experience) fell by 4%.

“It’s been a tough time for most industries since the lockdowns took place. Although tech companies have gained a good momentum in hiring. Due to the shift to remote working and the increase With the demand for some online services, the technology has been immune to blockages to some extent, ”said SCIKEY co-founder Karunjit Kumar Dhir.

The increase in tech hires indicates that these roles remain the most in demand due to increased competition and demand for new projects focused on digital technology during the pandemic, he noted.

This is a positive indicator that companies are moving towards implementing their growth plans and not just survival or business continuity strategies.

“As the economy is gradually recovering with the unlocking measures and increased mobility, we hope that recruitment activities will improve in the rest of the sectors as well,” Dhir added.

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