India’s job market is showing signs of recovery from the effects of demonetisation that left their jobs industry at an all-time low. But recruitment firms like Team Lease Services, ABC Consultants, Quess Corp, Antal International, People Strong and The Head Hunters are predicting a 50% jump in hiring activity for Q1 2017.
Hiring mandates have started coming back from companies across sectors such as banking, consumer, infrastructure, retail and engineering, which had previously suspended or cut back on hiring after the government decision to delegalise about 86 per cent of currency in circulation which led to a severe cash crunch across the country.
"We will be back with a bang in the April-June quarter. Hiring will shoot up by as much as 50 per cent compared to demonetisation lows, led by agri-related industries," Joseph Devasia, managing director at executive recruitment firm Antal International told The Economic Times.
He said that after a dry spell in November-December due to uncertainty over the impact of demonetisation on the economy and various businesses, the job market started picking up January onwards with improvements in liquidity and consumer spending.
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