Last available EPFO data from September shows a pick-up in formal jobs. N Ravi Vishwanath, CFO at TeamLease discussed how the improvement in jobs continued in October and November on a month-on-month (MoM) basis.
“October and November tell us that there is cautious optimism with our clients,” he said in an interview with CNBC-TV18.
“There are certain sectors where we have seen hiring coming back more strongly, manufacturing is one and two is the apprenticeship programme – because we do have a fair amount of apprentices placed with the manufacturing companies. The manufacturing companies have seen a pick-up in apprentices from Q2 itself and that continues in Q3 and looks pretty strong for Q4 as well,” he said.
In terms of hiring, he said, “We are seeing customers talking about hiring going back to pre-COVID levels especially in the BFSI sector, retail, FMCG, e-Commerce and telecom.”
“I think we should be able to get back to pre-COVID levels by March 2021,” he said.
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(Edited by: By Abhishek Jha)