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Job market has hit a 15-year low due to covid, says report

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coronavirus-induced lockdown have severely hit India’s job market. With corporate India rationalizing its workforce in response to the pandemic, only 5% companies are seeking to hire new employees this year—a 15-year low for the job market, according to a survey of employers by ManpowerGroup.Hiring prospects are the weakest since the staffing company started its Employment Outlook survey 15 years ago, falling 7% in the July-September quarter compared with the previous quarter and by 9% from the year-ago.Mint reported in March that sectors such as banking, financial services and insurance (BFSI), retail, logistics (delivery), manufacturing, fast-moving consumer goods (FMCG), which were on a hiring spree prior to the pandemic, saw half of the.

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