Hiring slows globally, but picks up locally

Bengaluru: Even as global hiring witnesses a slowdown, India’s formal job market is witnessing a strong resurgence, driven by growing demand across diverse sectors, a new report said on Friday. Indian job postings jumped 8.9 per cent in May, making a strong comeback after a brief pause, according to data compiled by global job platform Indeed.The growth highlights the resilience and momentum of India’s job market, which remains nearly 80 per cent above pre-pandemic levels -- one of the highest among major economies.

India’s job growth is being powered by its shift towards a more structured and formal economy.“As the nation transitions, job creation across the formal sector continues to outpace overall employment growth.