Krishna (name changed), a 35-year-old working for a reputed company, lost his job unexpectedly in February. At the same time, the second wave of Covid began raging across the country, forcing the government to impose a lockdown, making Krishna’s job search extremely difficult.
His job search efforts were futile because no company was hiring and, four months on, Krishna had yet to find a job. He found it extremely difficult to manage a family of five.
As the economy is not in good shape and the second wave of Covid is in a declining trend, there is still no hope for him that he will get a job immediately, though many states have started unlocking it.
Skilled labourers who lose their jobs because of their company’s cost-cutting measures have a hard time finding new employment.
According to the report in FE, India’s unemployment rate stood at 9.3 percent for the week ended June 20, up a week from 8.7 per cent a week ago. However, it was lower than the 13.62 percent for the week ending June 6.
The unemployment rate remains high because those who lost their jobs before the second wave of the pandemic are unable to find new ones.
Dr Prasad Roodagi, Director of the Institute of Management Studies and Research, told hubliexpress.com that, due to the lockdown, economic activities were hampered and every sector was affected by this and there is no doubt about that.
Regarding hiring, big companies have started, but medium-sized companies have adopted a cautious approach because there are lots of talks going on about the possible third wave. They may be thinking if they hire and if the third wave starts, then the workforce should not become a burden to the company, he said.
Dr Roodagi said that a clear picture regarding hiring will emerge only in September or October. Because economic activity has recently begun, the hiring percentage is low compared to last year and this year.
Advice to those skilled workers who have lost their jobs.
Dr Roodagi said that those who have lost their jobs should continue to apply for a job, should continue searching for the next three-four months and it is time for them to upgrade their skills. When companies hire, they will look for talented, well-skilled individuals, making it easy for them to hire. As a result, upgrading skills is important, according to Dr. Roodagi.
(To be continued..)