Employment slips just 1% aided by low hiring growth: Study
Mumbai, Aug 7 (PTI) There has been a marginal decline
of 1 per cent
in employment growth
at 6.6 per cent
to a larger number of companies
negative hiring growth, according to a report.
The employment growth
in 2016-17, was at 7.7 per cent,
Care Ratings said in a report.
with a turnover of between Rs 50-100
crore, Rs 100-250 crore and Rs 500-1,000 crore have witnessed
growth, the report
Large companies, above Rs 1,000 crore net sales have
witnessed robust employment
growth, it added.
"We observe that sectors
like shipping, media and
entertainment, abrasive, electrical, iron and steel and
diamond have witnessed
a robust sales growth
in FY18 but at
the same time have witnessed
a negative growth
On the other hand, telecom sector has witnessed negative
growth but has provided employment, having witnessed
of more than 15 per cent," the report
Sectors including agriculture, iron and steel,
abrasives, diamond and jewellery, electrical, ship-building,
media, paper saw 6.7 decline
in employment growth
plastic (8 per cent) and diversified (12.6 per cent).
While, ferro-manganese, consumer durables, chemicals,
hospitality, trading, FMCG, capital goods, logistics and
in hiring growth.
like crude oil witnessed
19.2 per cent
growth in employment
followed by alcohol (17.3 per cent),
finance (16.9 per cent), telecom (16.3 per cent), construction
materials (15.6 per cent), aviation (13.1 per cent), realty
(13 per cent), non-ferrous metals (10.5 per cent), automobile
and auto-ancillary (10.3 per cent), retailing (8.8 per cent)
and banking (7 per cent).
Further, the report
said, public sector companies
witnessed a higher employment growth
in 2017-18, compared
In case of private companies, there has been a
in FY18 but the employment
continued to remain robust and close to the aggregate level of
6.6 per cent.
However, employment growth
non-ferrous, automobile and auto-ancillary, aviation, finance,
crude oil, construction, alcohol have been backed by a robust
in the sector as well, it added. PTI SM DSK
SDM (This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)