Stock Market, Brokerage House & Mutual Funds Lead Job Providers In Jan-March 08

Among 30 lead sectors that provided the maximum jobs to young aspirants between Jan –March 2008, financial services outpaced the IT sector in Tier II and Tier III cities, according to the study conducted by the Associated Chambers of Commerce and Industry (ASSOCHAM).

As per the study titled “JOB TRENDZ: ACROSS CITIES AND SECTORS” done by the ASSOCHAM for a period Jan-March 2008, out of the total 30 sectors tracked, it was found that tier II and tier III cities have cornered 18.5 per cent and 21.5 per cent share of the job space respectively.

The financial services was also the second highest job offering sector among the total top ten sectors in the total 60 cities tracked for the study comprising Tier I, Tier II and Tier III cities. It has contributed a share of 26.35 per cent in providing maximum employment opportunities during January-March 2008.

Out of the total 26.35 per cent of the jobs created in financial services, the stock market, brokerage houses and mutual funds offered the maximum job vacancies in this sector, contributing a share of 35.44 per cent.

It was followed by the insurance sector that cornered a share of 34.22 per cent in providing job opportunities to the aspirants. After insurance sector, the banking sector generated employment opportunities with a share of 30.34 per cent.

The study was based on the sample of 32,000 vacancies posted by around 3,500 companies in the national and regional dailies, journals and job portals during the three months period of January-March 2008.

The tier II cities including Pune, Surat and Jaipur recorded maximum vacancies in insurance companies, banks, mutual funds, and brokerage houses. Among tier III cities Mangalore, Pondicherry and Aurangabad provided highest job openings in finance related jobs.

The second largest share of the vacancies posted in the upcoming cities was for IT sector. The sector provided jobs to large number of aspirants contributing a share of 17 per cent in tier II cities and 17.5 per cent in tier III cities of the total sample.

The IT and IT-enabled services provided maximum job openings in Pune, Surat, Ahmedabad and Nagpur belonging to tier II cities. The low-cost cities of Mangalore, Jalandhar and Aurangabad were the most sought after by the IT firms among the tier III cities.

In the tier II cities the education sector occupied the third rank. It offered vacancies for teachers and professors in schools and universities contributing a share of 6.41 per cent in the total job openings.

The prominent tier II cities that provided maximum employment opportunity in the education sector include Lucknow, Pune and Jaipur. Education was followed by consultancy & research sector (4.92 per cent) and management sector (4.70 per cent) at fourth and fifth ranks respectively.

Almost six per cent of the openings publicized in last three months in tier III cities were offered by the FMCG sector, which stood at third rank. The cities with high job openings in the sector were Mangalore, Amritsar, Ranchi and Udaipur.

The automobile sector, at fourth rank constituting a share of 5.60 per cent is speeding towards the small cities where particularly two wheelers and low cost four wheelers are considered to be in high demand. The sector at fourth rank provided maximum vacancies in the cities of Pondicherry, Aurangabad, Vishakhapatnam and Mysore.

In tier III cities, research and consultancy offered a share of 4.81 per cent of vacancies to the aspirants. It occupied fifth rank as the highest employment provider in tier III cities of Ranchi, Aurangabad, Bhubneshwar, Coimbatore and Indore.


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