There has been a notable increase in the number of job vacancies during the fiscal year 2023-24.
Surge in Job Opportunities: NCS Data
As per the data from the National Career Service (NCS), a government-run job portal, there has been a substantial surplus of job openings compared to job seekers.
In the FY24, there were 87,27,900 individuals who registered as job seekers on the portal, whereas on the flipside, the number of job vacancies surged to 1,092,4161. Same represents significant increase over the previous year.
In the last year FY23, there were only 34,81,944 vacancies listed. Hence, there has been a 214% increase in job opportunities.
The number of jobseekers were 57,20,748 in FY23, which has also increased by 53% in the next year.
As per a senior government official, this sudden surge of rise in job vacancies can be attributed to the growth in economy, which also echoes with the Union Finance Minister Nirmala Sitharaman’s optimism about India’s projected GDP growth of 8% or more in FY24.
With 46,68,845 vacancies and 134% more jobs than previous years, it was the finance and insurance sector that led in the job listings on the NCS portal.
Other sectors which saw a surge in job listings includes operations and support, civil and construction, and other service activities.
Trends in Job Listings on the National Career Service (NCS) Platform
If we break down the numbers of listings across educational qualifications, then most of the surge (452%) has been in the job listings for 10th pass or below.
The surge has been 179% for 12th pass individuals.
On the same lines, there has also been a notable surge in the job postings for ITI and diploma holders (378% increase). As we go up the educational hierarchy, the surge decreases but still is on the plus side. This includes 129% surge in job listings for graduates & 123% surge for postgraduates, PhD, or PG diploma holders.
In addition to surge in job listings and jobseekers, there is also an increase in the number of active employers on the NCS platform. The same number is around 1564800 and is testimony to the fact that there is also a growing interest from employers to utilize the portal for recruitment purposes.
