Many people consider the Sensex to be a bellwether of the economy and the direction in which it is headed. And in many ways the Sensex is indeed a good indicator of shortterm economic fortunes. For example, it needed only a couple of weeks of upward movement by the Sensex for the moribund construction industry to start bustling again. Not only that, even potential buyers started crowding into makeshift booking centers run by various brokers near construction sites. And IPOs have started making slowly coming to the market.
There is another bellwether that I personally tend to track, albeit in an irregular fashion – The job market. Given that most recruitment has moved on to online job portals that let you search through job listings, getting a sense of what is hot in the job markets is fairly easy.
As can only be expected, IT recruitment and Construction jobs are down. Recruitment to foreign locales is just a trickle. BPO jobs are there, but in specific areas. Those are standard .
But the more interesting fact is the recent spurt in job postings for HR and senior finance positions. This seems to indicate to me that companies are gearing up to recruit people and to get / manage more funds. Given that a senior level position takes anywhere around five months or thereabouts to get filled, many companies seem to be looking at a revival of the economic situation towards end of this calendar year.
Hopefully, the year will end on a more positive note than what we have lived through.
Krishna Kumar
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written by clarks, March 04, 2011
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