Economics
Worst Seems Over for India's Formal Job Market, Staffing Firm Says
- A record 122 million people lost their jobs in April in India
- Financials, health care sectors to see hiring bounce back
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India’s unemployment rate has probably peaked with large companies looking to restart hiring as the economy gradually exits the world’s biggest lockdown, says the head of a top staffing firm.
“Companies have already started conversations with us for hiring requirements in June and July, and the sense we are getting is that the worst of the job losses are behind us,” Ajit Isaac, chairman of Quess Corp. said in an interview on Tuesday. “I can see the bend in the road, and the bounce back in hiring in sectors like financial services, health care, and last-mile logistics will be sharper.”