Job growth slips 1%: Study

There has been a marginal decline of 1% in employment growth at 6.6% mainly due to a larger number of companies having witnessed lower or negative hiring growth, according to a report. The employment growth in 2016-17 was 7.7%, Care Ratings said in a report. Mainly companies with a turnover of between 50-100 crore, 100-250 crore and 500-1,000 crore have witnessed negative employment growth, the report added. Large companies, above 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 in employment. On the other hand, telecom sector has witnessed negative sales growth but has provided employment, having witnessed a growth of more than 15%," the report said. Sectors including agriculture, iron and steel, abrasives, diamond and jewellery, electrical, ship-building, media, paper saw 6.7% in employment growth followed by plastic (8%) and diversified (12.6%).

from The Economic Times https://ift.tt/2KANwdj