2016: Year in Review; Ups and Downs of the Indian Recruitment Industry

By Published February 9, 2017

2016 has been a whirlwind of a year for the Indian recruitment industry. While some recruiters found sourcing the right kind of talent to be a huge challenge, some sectors opened up a plethora of opportunities for job seekers. Let’s take a look.

Even when the government has taken several initiatives like Make in India to focus on domestic manufacturing and promote employment opportunities, it was the services sector that showed higher job growth in FY’16. According to a research report published by Credit Analysis and Research (CARE), industries including logistics, finance and IT enabled services (BPO/ITES) reported double-digit year-on-year growth in employment. On the contrary, infrastructure and capital goods companies, which are facing a slowdown, said a drop in the workforce.

A sample of 2,112 companies reported 1.6% growth in the labour force at 5.7 million in the fiscal ended March 2016 from the previous fiscal. The report quoted that, while there was no substantial increase in employment across sectors, the service-oriented industry witnessed a good jump in the process of job creation.

On the contrary, other segments like passenger cars and two-wheelers showed a modest increase of 0.5% and 0.3% of the workforce at the aggregate level. The textiles sector, which is one of the largest employers in the country, added just 0.2% more staff in FY16.

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