Indian Job Market Surges Ahead with Formal Economic Shift

Indian job postings experienced a significant recovery of 8.9% in May, after a prolonged period of decline, according to a comprehensive report by global job site Indeed.

The rise, driven by India's shift toward more formal economic practices, underscores a robust job creation rate that continues to eclipse that of other countries. However, on an annual basis, job postings slightly dropped by 1.8% in May.

Nonetheless, job postings in India remain 80% above pre-pandemic levels, a noteworthy contrast to countries like the UK, New Zealand, and Switzerland, where volumes have yet to recover. The report highlights that 80% of occupations in India have seen a rise, particularly in childcare, education, and personal and home care, despite some weaknesses in certain sectors.

(With inputs from agencies.)