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Job market forecast: Take a look at how these 8 sectors will react to note ban in 2017

Source | The Economic Times : By Varuni Khosla,Brinda Dasgupta

The job story for the first half of 2017 is a mixed bag. The pharmaceutical sector will hire in big numbers while telecom and BFSI are likely to have pockets of robust hiring. The pace of hiring for FMCG and automobiles may slow down, but IT services could see a marginal increase.

Ecommerce, which is maturing as an industry, is likely to grow in the long term. Experts see mid-size and small players in ecommerce having better growth and hiring plans compared with the bigger players.Varuni Khosla & Brinda Dasgupta report:

1.Ecommerce | Startups

The past year has been turbulent for the ecommerce sector, seeing a fair amount of consolidation and layoffs. Food delivery startups have been under pressure and have seen a drop in revenue. However, startups will continue to focus on profitability and customer acquisition. The bigger companies will push forward on business expansion following their annual strategy revisions around January-February, said Sanjit Banerjee, director of Experis, which is part of ManpowerGroup India.

The July-October period saw large-scale hiring by ecommerce companies to make the most of the festive season. On account of the post-festival slump and demonetisation, hiring in the near term will be slow. However, roles in product and technology, frontline and analytics will be up for grabs.

“Ecommerce is maturing as an industry with a better understanding of utilisation of costs and resources. More and more retailers are getting on to ecommerce platforms which will boost need for manpower and skills at the digital end,” said Kunal Sen,senior vice-president, TeamLease.

2. Manufacturing | Auto

Demonetisation has hurt manufacturing, especially the automobile sector. Sales of large equipment and machinery — many of which are in cash in rural areas — are seeing a drop. With the increased focus on automation, jobs are expected to take a hit. However, the situation may correct itself once there is more cash in the banking system.

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