Hiring Process Dwindles to 18% across Cities in March
As COVID-19 death toll surges every day, the entire world and its people are now in the throes of the global pandemic. With the deadly virus and the nationwide lockdown costing millions of jobs in India, its people struggle to find out how to meet their day\'s end and continue paying their bills and EMIs. The surge in unemployment and reduction of hiring activities in March is sparked by the increasing number of leading companies who announced furloughs and layoffs, as their only way to battle the pandemic.
The dwindling of the hiring process has come down to 18%, as compared to the same month of the previous year, to fight the economic storm birthed by COVID-19. The poorly affected Indian cities are, however, Hyderabad, Chennai, and Delhi, as per statistics and studies.
The Beginning of the Economic Storm
The hiring process displayed early slowdown signs from January where the Index shot up to only 5.75% followed by 0 growth in February. The March index for the year 2020 positioned in 1954, with a descending hiring activity to 18% when put to contrast with March 2019 at 2378.
