Money9 Edit | Hiring numbers key parameter for recovery

While emerging from a downturn, nothing is more welcome than growth accompanied by employment. As we draw close to the most tumultuous financial year in memory, the sets of data that would be mostly keenly watched out for are the hiring numbers.

Growth without jobs means little for the common man and policymakers. Growth with jobs lead to, most significantly, to a growth in aggregate demand as a rise in jobs lead to a multiplier effect on the economy. Led by the majors such as TCS, the Indian Information Technology sector is on the threshold of fresh recruitments and rewarding existing employees.

With workplaces undergoing transformation all over the world, companies in different countries are looking for help from Indian IT expertise to digitize their operations and offshoring a substantial part of their activities. Several other sectors are also expected to benefit after the economy gears up for a breakout in FY22. Most of the global bodies and rating agencies have forecast double digit growth rates for the country in the next financial year and the one outcome it is going to have is the return of workers to their area of work.

A few sectors are already looking up in the fourth quarter. A large number of workers have returned to the construction sites that is already driving activity in the real estate sector that has a marked effect on other core sectors such as cement and steel apart from paint and numerous home décor items. Sectors that are expected to drive the job market in the last quarter are transportation, utilities and finance.