Indian Economy News

A 36% growth was witnessed by the manufacturing industry in job postings: Indeed

  • IBEF
  • October 25, 2023

Job postings in India's manufacturing industry increased by 36%, according to a survey by Indeed, a global platform for job matching and hiring. Production and manufacturing continue to be among the functional areas that have hired the most people over the past year, according to the data released by Indeed. Teams of employees with a similar set of skills and expertise are called functional areas.

The data also showed an interesting trend, where hiring in this industry has been steadily increasing, job seekers' interest in manufacturing jobs has been noticeably declining by 3%, which has resulted in a 40% talent mismatch in this industry.

Additionally, the Indeed Hiring Tracker (FYQ2) provided information on moonlighting. As per the report, 79% of companies in the manufacturing industry oppose moonlighting because they see it as a breach of their employment agreement and work ethic. It stated that a sizable portion of blue-collar workers in this industry would lose out on extra pay, which would possibly be a reason for this year's small candidate pool.

According to Mr. Sashi Kumar, Head of Sales, Indeed India, “The growth in demand for manufacturing jobs is a positive sign for India’s economy. As the country strives to position itself as a global export leader, it is crucial to address the talent mismatch to ensure that the industry continues to grow.” He added that investing in upskilling will provide a talented workforce with accurate technological understanding, ensuring increased productivity without needlessly eliminating jobs. Supporting upskilling and reskilling initiatives can help in bridging the skills gap between employers and job seekers, and government initiatives to boost the manufacturing sector can create a climate that is favourable to job growth.

Furthermore, a positive hiring attitude was also seen in the March 2023 FICCI quarterly survey for manufacturing sectors including capital goods, cement, electronics, petrochemicals & fertilisers, textiles, apparel, and technical textiles.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.