The Indian job market has picked up, yet only one out of 10 graduates seeking employment will find a job, says a survey on hiring trends in 2010.
"This year over 10.5 lakh (1.05 million) jobs are being created across sectors but one crore (10 million) aspirants are coming into the market," managing director and CEO of Ma Foi Randstad K Pandia Rajan said on Wednesday.
Ma Foi Randstad, an international human resource service provider, conducted the survey among 650 companies across 13 industry segments in eight Indian cities -- Delhi, Mumbai, Kolkota, Chennai, Bangalore, Hyderabad, Pune and Ahmedabad.
The survey revealed that 418,564 jobs were generated in the first six months of 2010.
"The study also projected creation of 320,400 jobs the next three months (third quarter of the year) and an equal number for the fourth quarter too, taking the total job creation to over one million this year," Rajan said, releasing the findings of the survey.
The economic meltdown hit the global market early 2007, resulting in loss of thousands of jobs and cut down on hiring. Indian IT/ITes companies put hiring on hold in 2008 and 2009.
"The market has not returned to the same buoyancy of pre-recession days," said the CEO of HumanCapital B S Murthy.
The Bangalore based firm is into career consulting.
"It has slowed down, and hence less number of jobs and more seekers," he said.
Murthy said the trend is likely to continue for a decade unless there is growth in every sector in India.
While information technology and enabled services, mainly business processing office (BPO) and call centres, created a major chunk of jobs five years ago, the retail and telecom industry added numbers in recent years, he noted.
The job generation depends on investment and the investment is only in trickles, Murthy aid.
"The difficulty, however, is limited only to the freshers," Kris Lakshmikanth, the founder of The Head Hunters, said.
"It is easy for those who have already been in the industry and are looking for a placement in a different company," he added.