COVID-19 Impact: Talent demand dips

COVID-19 Impact: Talent demand dips

New Delhi: COVID-19 grips the job market with most sectors registering a drop in month-on-month talent demand, according to TimesJobs RecruiteX.

TimesJobs RecruiteX , a monthly recruitment index indicates that while most sectors have registered a fall, the year-on-year demand has shown a 7% growth according to its February 2020 report.

The projects/infrastructure sector noted the sharpest dip in the month-on-month talent demand followed by petrochemicals/oil and gas, export/import/merchandising and
logistics & warehousing sectors that also registered a decline in the talent demand.

“The world, especially China, the south-east Asia region, Italy and Iran, has been dealing with the impact of Coronavirus since December 2019. Accordingly, the sectors related to foreign trade, exchange, import and travel are experiencing a slowdown, which is now reflecting in their talent demand too. In the long term, their business output and profits too would show this impact,” said Sanjay Goyal, Business Head, TimesJobs and TechGig. “For February 2020, the M-o-M talent demand is muted but the Y-o-Y talent demand was up. For now, we should wait and watch, and hope that the situation becomes better from here on.”

Most high-volume sectors, including retail, FMCG, BFSI and manufacturing and engineering registered a drop-in talent demand in Feb 2020 v/s Jan 2020 comparison.

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