Economy

Good News For Jobs


So there finally seems to be some good news for job seekers in India. Monster.com has released some data that shows the Indian job market may have finally beaten the covid slump after 2 years.

The demand for talent was up 6% in March 2022, compared to March 2021 as per Monster.com. They said that 21 of 27 industry sectors monitored by them saw higher recruitment compared to last year.

Banking, financial services and insurance (BFSI) saw the highest hiring, and the sector has actually been improving on a YoY basis since November 2021. Within BFSI, wealth management, investment banking and cybersecurity have had the highest job openings.

Telecom, production and manufacturing are the other sectors that are seeing increased hiring.

In the tech industry, the impact of the 'Metaverse' can already be seen in hiring trends, as per Monster.com. They say that roles such as design architects, software designers, system validation engineers, 3D artists, AR/VR maintenance and support, and design/graphics engineer are expected to be in high demand in the coming months

Breaking down the data city-wise, Monster.com said that Mumbai saw the highest increase in online hiring (+21%), followed by Coimbatore & Chennai (+20% each) and Hyderabad (+16%).

This definitely sounds great if you're looking for a white-collar job in India. But what about blue-collar jobs, which employ more people here? 

Well, there's good news on that front too. Apna.co, a job platform for blue-collar workers recorded a 42% growth in its employer base. They say that because of Covid, earlier only jobs in healthcare, delivery, and e-commerce were doing well. But in the Jan-March'22 quarter, they're seeing hiring in sectors like hospitality, beauty and wellness, manufacturing, real estate, and aviation logistics pick up too.

Another great bit of news here is that there was much higher participation by women in the workforce. Apna.co claims they gave more than 1 crore interviews, a 20% increase compared to the previous quarter. Interestingly, apart from the traditional roles, women applied for delivery persons, security guards, drivers, chefs/bakers, IT support, civil engineers, and fitness instructors, among others.

Tech

Edtech 🤝 Fintech


Fintech and edtech have been two of the hottest spaces in the past few years. Generally you have a startup working on either of it. But Financepeer has just been like we'll do both. And its paying dividends – they've raised $31 million.

Financepeers core business is simple. They've paretnered with various educational institutions across the country right from pre school to post grad schools and offer loans to students so they can pay their fees. Thats their fintech part. The one they are known for the most.

The edtech part is some of their other products. These include their software product for managing institutions, their e-learning courses and their online classroom product.

Financekeepers claimed that over the last year, they witnessed 10x growth and have partnered with more than 10,000 educational institutions

With all the products they have we are actually wondering how soon its going to be before a rebrand.

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