The year 2022 been a witness to a huge pay offs and employment losses as the firms had constrained on creating recruitments along with letting go off the employees working for them.

 According to the reports from the Teamlease, the country’s leading staffing solution providing firm has shared in the Employment Outlook Report for the fourth Quarter that the manufacturing companies have created a surge in providing job opportunities.

In the Fiscal Year 2021 there has been a rise in the hiring by the companies recorded which went on till the first quarter of the Fiscal Year 2022 but later on the  decline in the hiring pattern observed with dismissal of the employees along with putting brakes on creating recruitments.

About the Employment Outlook Report

The report contains that beginning from the final quarter of the Fiscal Year 2022 around 60 percent of the companies plan to offer jobs to the job seekers and wishes to increase this trend to the Fiscal year 2023.

The Employment Outlook Report also mentioned that the rate of employing is higher by 94 percent in the metropolitan cities of country including Bengaluru, Chennai, Mumbai, Pune and Delhi by 94 percent, 89 percent, 97 percent, 73 percent and 84 percent respectively. Whereas, the employment rate in the other non-metropolitan cities is comparatively lower than the metropolitan cities with 73 percent.

Concerning the report provided by the Teamlease, the Chief Business Officer of the Firm Mr Mahesh Bhatt said that the employment rate has taken its peak worldwide after the last wave of covid and have assured to grow in the forthcoming quarters.

Although being in economically stressful situation, the manufacturing companies and firms have declared to create employment opportunities to spectate the growth in the future.  He also added to his statement that the Make in India movement led by the Country’s Government along with amendments introduces to make the manufacturing sector more reined will help to draw attention of the investors across the globe which in turn will favour more employment opportunities in the future.

Apart from the manufacturing sector, The Retail, Banking, financial services and insurance (BFSI) information technology ,automotive sector have been expected to spectate an increase in the employment opportunities in the upcoming Fiscal Year 2023 by 25 percent. Also, the Education and Healthcare firms have been said to witness talent based employment by 20 percent.

Photo Credit- BW Disrupt

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