The Wheebox India Skills Report 2023 suggests that in contrast with last year's employability figures of 46.2%, 50.3% of young people were found to be highly employable overall this year. Moreover, the percentage of employable women workforce has increased to 52.8%, compared to 47.2% for men.
The survey indicates that candidates from Uttar Pradesh, Maharashtra, and Delhi had the highest employability. Amongst B Tech, MBA and B Com were found to be the most employable talent from various domains.
Mumbai, Lucknow and Mangalore were the cities with the most employable talent, and the most preferred cities for work by graduates were Bangalore, Chennai and Delhi/NCR.
The report points out that India will be hiring most in the Automotive, Engineering and Internet Businesses. Additionally, companies across India show a hiring intent of 36.08% for the demand forecast of 2023. According to the study, the demand for skilled labour is driven by the BFSI, pharmaceutical, e-commerce, and IT/ITES sectors. Freshmen hiring in these fields is projected to increase by 20% in 2023 compared to 2022
Women Resources.
India’s female participation in the workforce currently stands at 33% compared to 67% participation for their male counterparts. Interestingly the employability for female talent is around 5.6% more than that of men. If India aspires to become a global leader in providing skilled talent, then it is recommended that more policy-level changes are needed to increase workforce participation both in the private sector as well as the government sector, the report read.
Rajasthan was reported to have the greatest percentage of employable females prepared for the workforce (53.56%), while Uttar Pradesh came in second with 46.51% of employable women.
Given the significant shift in gender-based employability over time, more women have regularly been found to be highly employable than men over the past few years — the positive consequences of cultural and economic developments are encouraging.
Nirmal Singh, Chief Convenor, India Skills Report, Founder & CEO, Wheebox said, “If the country needs to realise true talent potential, the focus should be training and skilling more women in technology by promoting skilling, entrepreneurship, and market linkage support to women building technology start-ups and tech-driven businesses. I believe that if India focuses on two key metrics: more female participation in STEM and more female workforce participation, India will double its economy in half the time it would take otherwise to do so.”
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