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|
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
|Cure Fit||10% of trainers|
|OYO||Many employees furloughed|
- SSC CGL Salary: Check Post Wise Salary Structure
- SSC CGL Vacancy 2019: Check Expected Vacancies for 2019-20
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.