Jobs Outlook Report – June
After a touch-n-go run in May, hiring activity returned to register a sharp recovery in June. June has emerged as the strongest month for the current financial year. The closing figures for June 2021 is more than twice that of June 2020. While June 2020 went down the memory as the lowest point in hiring action over the COVID year, June 2021 in contrast will be remembered for the spike and strong recovery. Coming at a time when the 2nd wave of the pandemic was receding and vaccination programs showed progress, June 2021 could well be the starting point of a buoyancy expected for the rest of the year.
Post Lockdown Lifting
Unlocking of major markets and resumption of commercial activities boosted hiring action to a massive 32% increase over May 2021.The count of jobs that were active, refreshed and seen accepting applicants in June 2021 was 270K as against 205K in May 2021 and 200K in April 2021.
Job Types
Full-time opportunities showed a strong recovery in June. Full-time openings grew by 33% over the previous month and contributed to 93% of the active job opportunities in June 202. While Contract based opportunities continued to remain stagnant, Part-time opportunities grew by 25% and Internship openings grew by over 20%.
Jobs by Levels
As for the composition of different job levels, there was a minor re-distribution in their relative contributions when compared to May. The contribution of the entry-level openings stood at 33% (-1%), followed by Mid-junior openings at 27% (+2%). The slice of the mid-senior jobs ended at 21% (-2%) and Senior Roles contributed to a little over 1% of overall active openings.
Jobs by Industries
With nearly a 37% growth in active openings over May 2021, the IT Services claimed the largest share of job growth in any industry.The 2nd engine of growth in June was the Internet Enabled Services sector with a 32% rise over May 2021. After remaining stagnant in the previous month, the BFSI sector resumed action and put out 26% more jobs than it did in May 2021.
Jobs by Functions
IT continues to be the top contributor to active jobs at 48% followed by Engineering at 24%. The contribution volume of the Sales & Business Development registered a significant rise when compared to May. More hiring action should be expected in Sales & BD functions in the coming quarter.
Jobs by Location
Metros welcomed 125K active job openings in June, the highest ever count since the onset of the pandemic last year. Bengaluru registered the sharpest climb (66%) from May, followed by Mumbai (22%), Delhi (21%), Hyderabad (20%) and Chennai (9%).
Prominent Employers
Some of the prominent employers with active openings for the month were Accenture, IBM, Wipro, Genpact, Oracle, JP Morgan Chase, Google, TCS, Morgan Stanley, Wells Fargo, Flipkart, Infosys etc.
