These Sectors Witness Hiring Surge Despite 8.6 Million Job Loss

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New Delhi: Three sectors — Information technology (IT), pharma and e-commerce — have lifted the trend of job losses as these sectors emerged the top recruiters from February to April 2021.

The surge in recruitment comes following an estimated 8.6 million salaried jobs, particularly in travel, tourism and hospitality, being lost in the same period, according to data from the Centre for Monitoring Indian Economy (CMIE).

The increased hiring in the IT, Pharma/healthcare and ecommerce/warehousing was a saving grace in light of 8.6 million job loss during the three months.

Manufacturing has seen a 25 to 30 per cent nosedive in manpower due to the pandemic in the three months while the IT industry saw a more-than-100 per cent surge in demand for skilled technical job roles, according to group CEO, FirstMeridian Business Services, Sudhakar Balakrishnan.

“In IT, demand has increased for skilled technical job roles such as sales developer, application developer, site reliability engineer and lead consultant. some specialised roles are commanding a wage premium of 30- 50%,” Balakrishnan was quoted as saying by The Hindu.

Due to hike in demand for medicines, the pharma sector is also in a hiring mode. About 30 per cent of the staff would be placed under the hybrid model, while about 40 per cent would stick with the traditional work-at-office model to execute strategic processes, Balakrishnan said.

“Job creation has happened primarily in healthcare, over three lakh jobs have been created. A slight uptick in overall employment is expected in Q2 2021 and better momentum is expected in Q3, which will be driven by the festive season,” he added.

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