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Real Estate, Construction Jobs Witness Slow But Steady Recovery: Report
Hiring activity in the construction sector for the same period indicated that while interest for related jobs declined 18 per cent, the postings grew marginally by 0.3 per cent
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Even as there was huge impact on the hiring activities in the real estate and construction sectors during initial months of lockdown last year, there has been gradual improvement since the easing of restrictions that resulted in slow and steady recovery in the sectors, according to a report.
The real estate and construction sectors, which are mass employers and prime indicators of the country's growth and development, were brought to a halt by lockdowns. However, the recent GDP data, released by the National Statistical Office (NSO) for the third quarter of 2020-21, indicated recovery in the sectors, thus reflecting a boost in hiring opportunities, according to a report by global job site Indeed.
Indeed's data revealed that interests for real estate jobs jumped 22 per cent while postings for these jobs also increased by 3 per cent in March 2020-March 2021.
Hiring activity in the construction sector for the same period indicated that while interest for related jobs declined 18 per cent, the postings grew marginally by 0.3 per cent, it noted.
'The turnaround in construction and real estate hiring is a sign of hope, because job creation at scale is at the heart of economic recovery.
'The pandemic drag on real estate projects does not appear to have impacted the demand for skilled construction workers. However, the top jobs in real estate reflect the sector's response to the rise of remote work, talent migration and the demand for flexible workspaces,' Indeed India Managing Director Sashi Kumar noted.
He added that as the country navigates a second wave, it is important to ensure the continuity of mass employment sectors like construction and real estate and their ancillary sectors that are slowly but surely rebounding from last year.
The report is based on data on the Indeed platform from March 2020 till March 2021.
It further showed that hiring for real estate jobs has seen a stronger recovery in June 2020. It remained steady throughout the second half of 2020, as roles offered in the sector are more compatible with digital transformation and interfaces.
On the other hand, the postings for the construction jobs were half compared to the interests shown for them owing to the on-site, physical nature of the jobs, it added.
Indeed data also indicated that job seekers' interests in construction jobs hit a two-year low (30 per cent) in April 2020. After this, the sector seemed to have picked up momentum as the government eased out restrictions in the sector, thus reflecting a jump of 17 per cent between April 2020 and March 2021.
While the overall postings for job roles in construction remained low, the jobseekers interest was high throughout the pandemic, it added.
The top-5 job roles that were in demand for the construction sector were site engineer, construction worker, planning engineer, civil supervisor and carpenter. For the real estate, top roles included real estate associate, property manager, real estate manager and leasing agent, it added.