employment: blue-collar job offers increased the most in 18 months

India’s blue-collar and gray-collar labor markets recorded the highest demand for labor in a year and a half last month amid an opening up of service activity, a recovery in consumer spending, growing attrition and overall positive business sentiment even as many businesses close in on rising inflation and ongoing geopolitical unrest and their impact on the economy.

More than 1.26 million new jobs or new vacancies for blue and gray collar workers were posted across all industry sectors in May, double the number of jobs posted in April, according to QJobs data. , an online job platform that is part of a recruitment services company.

, shared exclusively with ET. This is a record number of jobs on the platform since its launch in November 2020, and the number of jobs has increased month on month.

Gray collar refers to workers who are not classified as white collar or blue collar and who have specialized technical skills.

“We are seeing an unprecedented increase in new vacancies in the blue and gray collar segment in the current quarter,” said Ajay Singh, senior vice president of Quess Corp. increased hiring in all job categories. Businesses are making the transition to office work and are quite optimistic about the business outlook. The number of vacancies in May last year was around 105,000 amid a raging second wave of Covid-19.

Economists and labor market experts say the recent rise in the number of Covid-19 infections in the country and fears of a possible fourth wave are unlikely to deter companies from bolstering their teams in the short term. in a context of resumption of commercial activity. , increased consumption and the reopening of offices, educational institutions and commercial establishments.

“Even though macro indicators such as rising interest rates, runaway inflation, supply chain issues and the war in Ukraine are flashing red and companies are watching them closely, when we look at the micro-dynamics, every industry faces sudden swings in demand, increased attrition and the potential opportunity cost of lost business,” said Sachchidanand Shukla, Chief Economist at Mahindra Group.

“Additionally, spikes in consumption were observed across all segments due to revenge consumption or FOMO (fear of missing out) – particularly in the upper segment in categories ranging from white goods, automobiles and housing, etc.”, he added. Apart from this, positive short-term indicators such as increased mobility, relatively strong company balance sheets and a higher medium-term growth trajectory compel companies to have an adequate workforce despite the fourth wave sword dangling.

Elizabeth J. Harless