The job market is improving. New jobs are being created all over, but are more concentrated in the metros. Over 1.36 lakh new jobs were generated during the quarter, registering an increase of 8.9% over 1.25 lakh new jobs that were generated during the first quarter. Bangalore, Chennai, Delhi-NCR, Kolkata and Mumbai alone account for 61% of these new jobs, says a study Job Trends Across Cities & Sectors conducted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM).
About 15% of the total number of new jobs generated across cities and sectors are from Bangalore. The city is the second on this count, but lagging way behind Delhi-NCR which accounted for 24%. The news from Delhi-NCR, however, is extremely gloomy. New job generation there dipped by about 5% during the said quarter.
The drivers of the job growth in Bangalore remain information technology (IT) IT enabled services (ITeS) and IT hardware. Together, these generated 67% (14,071) of the jobs, and grew by roughly 30% over the 10,600 new jobs generated in the sector in the previous quarter. Jobs in ITeS grew by 33.6%, but in case of IT-hardware the numbers dropped marginally (by 3.4%).
In terms of sector construction and engineering came second, but was way behind in absolute numbers with 1,400 new jobs. While the construction sector generated 30% more new jobs, the engineering sector dropped by 15%. The banking, financial services and insurance (BFSI) sector with 1,192 jobs, academics (729) and telecom (700) came next. All these sectors, however, generated fewer jobs than in the last quarter. Banking dropped by 15%, financial services by 28.5%, insurance 2%, academics 42%, and telecom 4%. Among the major sectors where fewer jobs were generated, the automobile industry came tops with a 51% drop.
Amid Tier-I cities, Pune saw the highest new job generation with 40%, followed by Ahmedabad (31%), Surat (24%), and Hyderabad (16.5%).
ASSOCHAM tracked data on a daily basis for vacancies posted by 3,000 companies on job portals, advertisements in job supplements of national and regional dailies and news journals for 56 cities and 32 sectors offering employment opportunities across India.
Mumbai sees 11% increase in jobs
More than 1.36 lakh new jobs were generated in various sectors across India during second quarter of the current fiscal which increased from over 1.25 lakh new jobs that were generated during first quarter. The top five metros ‑ Bangalore, Chennai, Delhi-NCR, Kolkata and Mumbai ‑together account for about 61 per cent of these new jobs. Mumbai with 14,649 new jobs registered a quarter-on-quarter growth rate of more than 11 per cent.