Source | The Economic Times
MUMBAI: There was a recovery in employment in the corporate sector in 2015-16, with around 1,08,000 jobs being created, making it the most productive year in terms of staff hiring, CARE Ratings today said.
“There has been a recovery in employment in the corporate sector in FY16 after declining marginally in FY15. “In terms of incremental jobs created, FY16 was the best year with around 1,08,000 jobs being created against 84,000 in FY13 and 46,000 in FY14. Hence, FY16 has been the most productive year in terms of hiring employees,” the rating agency said in a report titled “Employment in the Corporate Sector – FY16”.
However, the impact at the margin on employment on certain industries on account of demonetisation could slow down the pace of job creation towards the end of FY17. The report is based on figures provided by a sample of companies in their annual reports. It analysed employment data across various industries and is based on a sample of 2,112 companies across various sectors for FY15 and FY16.
The report further said there is a strong relationship between GDP growth and that in employment. Higher rate of expansion in GDP in FY14 and FY15 did not result in corresponding growth in jobs creation.