Formal jobs surge in India even as global hiring slows: Report

Bengaluru, June 13 Even as global hiring witnesses a slowdown, India’s formal job market is witnessing a strong resurgence, driven by growing demand across diverse sectors, a new report said on Friday.

Indian job postings jumped 8.9 per cent in May, making a strong comeback after a brief pause, according to data compiled by global job platform Indeed.

The growth highlights the resilience and momentum of India’s job market, which remains nearly 80 per cent above pre-pandemic levels -- one of the highest among major economies.

India’s job growth is being powered by its shift towards a more structured and formal economy.

“As the nation transitions, job creation across the formal sector continues to outpace overall employment growth. This consistent upward trend puts India ahead of many other global economies,” said Callam Pickering, Indeed’s APAC Senior Economist.

The report found that job postings have increased in nearly 80 per cent of occupations over the past three months.

Sectors such as childcare (up 27 per cent), personal care and home health (25 per cent), education (24 per cent), and production & manufacturing (22 per cent) saw the most notable gains -- reflecting rising demand in both social and industrial services.

The software development sector continues to dominate India’s formal hiring space, accounting for nearly one in every five job postings on Indeed.

Another highlight of the report was the surge in demand for talent skilled in generative AI.

As of May, 1.5 per cent of all job postings in India mentioned generative AI -- more than double compared to last year.

Generative AI-related roles are not only concentrated in tech and data analytics but are also emerging in areas like scientific research, marketing, and management.

Regional hubs such as Karnataka and Telangana have become key centres for generative AI opportunities, while Maharashtra leads in overall job volumes.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor