New job generation surged by 9% in Q2 of FY14: Assocham

Assocham-ReportNEW DELHI: The new job generation during the second quarter of July-September of the current financial year has surged by about 9% as against the previous quarter of April-June, according to The Associated Chambers of Commerce and Industry of India (Assocham).

According to a sector-specific analysis on ‘Job Trends Across Cities & Sectors,’ conducted by the industry body, a total of over 1.36 lakh new jobs were generated in various sectors across India during the second quarter financial year 2014 which increased from over 1.25 lakh new jobs that were generated during quarter one. The top five metros, Bangalore, Chennai, Delhi-NCR, Kolkata and Mumbai together account for about 61% of these new jobs.

“Delhi-NCR (national capital region) remained on top with highest share of over 23.6% in the new job generation across India, however new job generation in Delhi-NCR has plummeted by over 5%^ during this period i.e. from over 34,200 jobs in Q1 to over 32,300 jobs in Q2

Bangalore ranked second with over 21,000 new jobs generated in the city during quarter two and the city has clocked a growth rate of over 12% as over 18,700 new jobs were created in Bangalore in quarter one. Besides, registering quarter-over-quarter growth rate of over 11% and 9%, Mumbai (14,649 new jobs) and Chennai (8,786 new jobs) have recorded a surge in job generation during the course of past three months.

Kolkata has registered a decline of about 2% as over 6,400 new jobs were generated in quarter two as against 6,500 new jobs in quarter one, highlighted the Assocham analysis.

“With over 58,000 new jobs, information technology (IT), IT enabled services (ITeS) and IT hardware sector has garnered the highest share of over 42% in new job generation and the sector has clocked an overall growth rate of over 12 % in quarter two as the sector together had created over 49,500 new jobs in the previous quarter,” Rawat stated. The banking, financial services and insurance (BFSI) is ranked second with over 22,900 new jobs and the sector together has clocked a growth rate of over 32%.

Construction and engineering sector together has generated over 7,200 new jobs and thereby registering a growth rate of over 10.5%, according to the report.

Telecom, civil aviation, pharma and bio-technology, fast moving consumer goods ( FMCG), energy, hospitality, advertising and event management, sports, merchandising, other manufacturing, automobile, research and consultancy are the other significant sectors that have seen a surge in employment generation.

While academics and education, real estate, agriculture and allied activities, architecture, gems and jewellery, human resource (HR), infrastructure, logistics, media, retail, textile and warehousing are certain sectors that have registered a dip in new job generation in quarter two, highlighted the analysis conducted by the Economic Research Bureau (AERB) of Assocham.