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Job Crisis In Private Sector While Opportunities in Govt Sector

With India battling COVID-19, the private sector employees are facing unemployment as millions of people lost their jobs. Are there any opportunities in govt sector? Check it out.

Job Crisis In Private Sector While Opportunities in Govt Sector??

Unemployment in urban areas is becoming an issue of concern for many areas. It is said that the worst is yet to come. Unemployment is expected to rise in the upcoming months with many companies already laying off their employees. In an esteemed newspaper, the data with the job losses in each sector was depicted where millions of jobs have already been lost. The job losses may result in poverty with the crisis we have never seen before. Although, the sectors likely to be least affected are Tech or IT, ed-tech and banking/finance where the job opportunities are likely to grow. Let’s take a look at the sector-wise data of the pre-COVID scenario and jobs lost till date.

Sector Pre-COVID Employees Job losses due to COVID
Auto Manufacturing 5 million 2-3 Million
Auto dealership 4 million 200,000 & counting
Retail: Organised & Unorganised 46 million 6 million in the next 3 months
Internet Businesses 400,000 80,000-1 lakh
Real estate 70 million 14 million & counting
Travel and tourism 55 million 38 million in the next few months
Restaurants 7.3 million 2 million
Media & Entertainment 6 million 600,000 to 720,000 by June
Steel 2 million 200,000 to 240,000
Education 18 million 3.6-4.5 million
Telecom: Service, Manufacturing 2 million 70,000

 

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Layoffs at startups so far (with % of the total workforce)

Startups are the most affected due to COVID-19. Even the 20 lakh crore package of the government doesn’t seem to benefit the startups. Many renowned startups have also laid off the employees to combat the losses. With less profit and no proper source of income, companies are compelled to fire the employees without even giving proper notice. Here is a list of Indian startups with the number of employees laid off as per their total workforce.

Startup Employees laid off % of the total
workforce
Ola 1,400 25%
Swiggy 1,100 14%
Sharechat 101 25%
Livspace 450 15%
Zomato 500 13%
Cure Fit 10% of trainers
Blackbuck 200
Udaan 3000
OYO Many employees furloughed
WeWork India 100 20%

 

Opportunities in Govt Sector

As the private sector will struggle in the upcoming year, there are plenty of opportunities for people who applied for government jobs or are planning to apply. There is a possibility that the government will release various recruitment notifications in SSC and Banking sector. The pandemic has put the world on a standstill but there is still an opportunity in the government sector to deal with the crisis. Moreover, candidates will need to perform their best as the competition is likely to rise in the upcoming months with people shifting to the government sector from private. So students, pull up your socks and start preparing for the examinations such as SSC CHSL, IBPS etc to get the job of your dreams.

 

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