Good news for job seekers, 39 lakh jobs may open up in India in first half of 2024

Despite macroeconomic issues, demand for frontline workers is expected to remain firm in the new year. As many as 39 lakh or 3.9 million jobs may be up for grabs in the first half of 2024, according to a year-end insights report by SaaS and frontline workforce management platform BetterPlace.

The report is based on analysis of over a million data points. It estimates that over 50 percent of the overall need for new workforce will come from the logistics and mobility industries. Next highest employee seekers are e-commerce, IFM and IT at 27 percent and 13.7 percent, respectively. The least hiring in 2024 is estimated to come from BFSI (0.87 percent), retail and QSR (1.96 percent).

IFM and IT have offered higher salaries to curb higher attrition among workers. Attrition has also decreased in logistics and mobility with salaries starting to stabilise amid high demand for workers. On the other hand, the highest attrition was seen in BFSI followed by retail and QSR.

Salaries of workers

The highest increase in salary came from manufacturing (19.6 percent). Second highest spike came from retail and QSR (15 percent). IFM and IT saw the most decrease with salaries declining 20.3 percent.

(With inputs from IANS)