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Coronavirus impact | Hiring activity picks up in India, but job seekers double, shows LinkedIn data

Competition for jobs has doubled compared to six months ago as the average number of applications per job posted on LinkedIn increased from around 90 in January to 180 in June

August 17, 2020 / 11:08 PM IST

Hiring activity in India is slowly picking up, even as concerns over the second wave of COVID-19 remain, data from professional networking site LinkedIn has shown.

LinkedIn’s labour market update showed that between early-April to end-June, hiring increased by 35 percentage points. In April, hiring had slumped to a low of below -50 percent year-on-year (YoY), before starting to slowly recover.

Hiring

The data showed that hiring sentiment stands at -15 percent YoY as of June-end. As risks of second-wave of infections emerge, some states have imposed lockdown measures again.

Also read: Here are the number of jobs lost due to COVID-19 lockdown

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How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

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There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

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The analysis looks at the year-on-year changes in the hiring rate, which is a measure of hires divided by LinkedIn membership. The analysis was conducted for the period of February 11 to June 30, 2020.

Job shifts and rising competition

In what could be an impact of the job losses and pay cuts, LinkedIn’s data showed that competition for jobs has doubled compared to six months ago. Here, the average number of applications per job posted on LinkedIn increased from around 90 in January to 180 in June.

Application

Since jobs aren’t available in sectors like recreation, retail and travel, LinkedIn data showed that candidates are open to moving to other sectors.

The data showed that compared to the pre-COVID period, job seekers who are currently in the affected sectors like travel are 6.8 times more likely to look for jobs in a different sector, compared to pre-COVID times.

Exit industry

Data further suggested that those in the retail sector are 2.4 times likely to apply for a job in a different sector. The analysis looks at how job seekers in different industries are adapting to changes and adjusting their jobs search strategy.

Disruptive skills are in demand

The top five jobs are software engineer, business development manager, sales manager, business analyst and content writer. The top five skills are JavaScript, SQL, sales management, team leadership and recruiting.
M Saraswathy
first published: Aug 17, 2020 05:23 pm
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