Originally published in TimesNow
The month of May was tepid in terms of new jobs as hiring dipped but the tech industry bucked the pandemic-indued downward trend as Information Technology continued their expansion spree, according to a report.
An overall number of new job posts dipped by 2 percent in May according to job site SCIKEY Market Network. The retail sector saw a dip of 16%, new job posts in banking declined by 12% and FMCG by 12% but the insurance sector saw a growth of 5 percent in wake of the second wave of the Covid-19 pandemic.
The report said new job posts in the month for software developer, DevOps, cloud and data engineer witnessed a growth of 12-16 percent. Profiles like sales, marketing, site engineering, Human Resources, finance and project manager remained flat, it added.
The data also showed that jobs for mid-level executives with 8-12 years of experience and leadership positions, with more than 16 years of experience went up by 5 percent and 12 percent respectively. However, hiring for entry-level and freshers declined by 4 percent during the period, the report added.
"It's been a rough patch for most sectors since the lockdowns took place. Although, tech companies have gained good momentum on hiring. Due to the shift to remote work and the surge in demand for certain online services, tech has been immune to the lockdowns to some extent," SCIKEY co-founder Karunjit Kumar Dhir said.
An increase in tech hiring shows that such roles remain in demand due to increased competition and demand for new digital technology-led projects during the pandemic, he added.
This is a positive indicator that businesses are moving towards getting their growth plans into action and not just survival or business continuity strategies.
"Since the economy is gradually boosting with the unlock measures and increased mobility, we are hopeful that the hiring activity will further improve in the rest of the sectors as well,” he added.
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