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Buoyed by better hiring season, Delhi NCR will see rise of 35-40% new jobs during April–June 10: Study

By A Staff Reporter

Riding the success of generating 22.3 per cent higher jobs during last quarter of FY’10 year-on-year, Delhi and NCR is likely to create 35- 40 per cent greater new job opportunities in the current quarter owing to better placement prospects of B-schools and engineering colleges, according to an ASSOCHAM Placement Pattern (APP) Study.

“The national capital region of the country has been a frontrunner in affirming the job market recovery. With improving demand for skilled manpower balancing with the supply pool of higher education institutes, the chamber foresee a rise of 35 – 40 per cent in corporate hiring plans in the region,” said ASSOCHAM President, Dr. Swati Piramal.

The results of the survey-based APP Study entitled “Quarterly Assessment of Job Prospects in Delhi NCR” revealed that Delhi NCR region witnessed an overall rise of 22.3 per cent during the January – March quarter of FY ‘10 over the corresponding period last year.

In terms of area wise distribution of growth in new employment opportunities, Noida/Greater Noida registered maximum growth of 34.5 per cent in new jobs creation followed by Gurgaon (27.6 per cent) and Delhi/New Delhi (19.7 per cent). Faridabad and Ghaziabad have registered a modest growth of 15.9 per cent and 13.6 per cent respectively.

The survey results are based upon a sample 96,569 job openings announced during the first three months of 2010. These announcements of new jobs on various job portals and print media represented the demand side factors whereas a total of 82 management institutes and 92 engineering colleges helped assess the supply side scenario.

The ASSOCHAM Study also highlighted the enormous absorptive capacity of management and technical education institutions for students coming for higher education in the region. According to estimates, every year close to 70,000 students come to Delhi NCR for pursuing higher education particularly in the field of management and engineering.

Having a distinction of catering to needs of multi-sized companies, the job market in Delhi NCR has become a seminal point of attraction for students and aspirants from all corners of India and abroad.

Revealing the Study findings, the ASSOCHAM chief added that companies operating in the Delhi NCR region are having substantive hiring plans for fresh MBAs and engineering graduates in sectors such as real estate, telecommunications, academics, Banking Financial Services & Insurance (BFSI), Construction & Engineering, Media, PR & Event Management and FMCG.

The service sector has been gaining strong momentum in generating new jobs in segments like real estate and telecommunication. The real estate sector registered a growth rate of 50.2 per cent year on year during Q4 FY’10. Pent up demand in the sector is likely to raise job availability going forward.

New job creation in the telecommunications sector increased by 39.2 per cent during the January–March period. Competitive roll-out of 3G services in the region augurs well for the job prospects in the sector.

Helped by the beginning of new academic session during the current quarter, there is likely to be a spectacular rise in job opportunities in the academics sector. Emergence of new educational institutions across Delhi NCR region has seen a significant build up in job opportunities in the sector leading to a growth of 37 per cent in new job openings during Q4 FY ’10.

The Banking, Financial Services & Insurance (BFSI) sector, with a growth of 21 per cent in new job creation during January – March period, has benefited from the strong rebound in the economy.
Commonwealth games has been one of the biggest contributing factors in ensuring the demand for manpower in sectors like construction & engineering, hospitality and media, PR & event management, said the Assoc ham Study.