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India – Labour Market Update (June 2021)

By | Pei Ying CHUA | APAC Lead Economist | Data Scientist | Writer

LinkedIn’s Economic Graph is a digital representation of the global economy, and insights from the graph provide real-time information on trends that are emerging in the labour market. In this latest update, we see that hiring is around 42% above pre-COVID levels.

Hiring is around 42% above pre-COVID levels

There was a deepening hiring dip in April 2021, corresponding to a second wave of COVID-19 cases in India. Since then, it has been recovering steadily – compared to the pre-COVID levels in 2019, it was 35% higher at the end of May 2021, and 42% higher at the end of June 2021. This is possibly due to a release of pent up hiring (which accumulated in 2020 as companies took a more cautious stance towards hiring).

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Hiring rate is a measure of hires divided by LinkedIn membership. This analysis looks at the changes in hiring rate between this month and the same month in 2019. Note that larger fluctuations tend to be seen around large public holidays – this might factor into the hiring rate fluctuations seen in late December and early January.

**As we reach the one year anniversary of the national lockdown, the pure year-over-year metric is likely to spike due to the hiring decline in 2020. This may mislead audiences to believe that the economy is surging this year when in fact narratives are assuming comparison and recovery to pre-Covid “normal times”. To correct this, we have changed from a pure year-over-year % to year-over-year % change fixing 2019 as a baseline.

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