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Good news for those in the job market

The Ma Foi Employment Survey has pegged the new number of jobs in the organised sector in 06 at 10.3 lakh plus. The IT and ITES sector will account for over 7,00,000 jobs, with the sector attracting people from other industries. The BFSI sector, which is becoming stagnant, is expected to shed about 1.3 lakh jobs, with people crossing over to other verticals, according to the survey.

The services sector is expected to account for more than 3.8 lakh jobs, while mining is expected to lose a little over 7,000 jobs. Last year, 4.25 lakh people went overseas, and the new liberalisation phase could witness a 5-6% increase in this number. And corrections in the immigration laws can easily turn this into a million, he noted.

According to the TeamLease Employment Outlook Survey, all sectors are expected to increase their hiring activities this quarter; main drivers being the services and FMCG sectors. Retail, Media & FMCG at 95 index points, followed by IT at 94 and Financial Services 91 (retail, media, IT, financial -services).

Bulk of the recruitment will be at the junior level at 86%. Hiring trends across functions project marketing highest at 31%, followed by IT at 18%, production at 17%, finance and others (customer service, quality assurance and maintenance etc) at 11%, administration at 8% and HR at 4%.

The survey also suggests that Mumbai followed by Delhi and Bangalore have the largest employment base indicating that most of the companies would be hiring in these cities.

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