Real estate and construction jobs witness slow but steady recovery: Indeed

Indeed recently analysed hiring activity in real estate and construction sectors. The two sectors which are mass employers and prime indicators of the countrys growth and development were brought to a halt by lockdowns. However, the recent GDP data released by the National Statistical Office (NSO) for the third quarter of 2020-21 indicated recovery in the sectors, thus reflecting a boost in hiring opportunities.
Indeeds data revealed that clicks for real estate jobs jumped 22% while postings for these jobs also increased by 3% in March 2020-March 2021. Indeed, which is a real time indicator of labour market activity also analyzed hiring activity in the Construction sector for the same period. The data indicated that while clicks for construction related jobs declined by 18% the postings grew marginally by 0.3%.
While the data shows a significant impact on the hiring activity in both the sectors during initial months of lockdown, it showed gradual signs of improvement on the back of eased out lockdown restrictions which resumed the labour activities in the sectors.
The overall data indicated that, hiring for real estate jobs has seen a stronger recovery June 2020 and remained steady throughout the second half of 2020, as roles offered in the sector are more compatible with digital transformation and interfaces - the job postings for real estate were higher than the clicks in the second half of 2020. On the other hand the postings for construction were half the clicks owing to the on-site, physical nature of the jobs.
Indeed data also indicates that job seekers interests in construction jobs hit a two-year low (-30%) in April 2020, after which the sector seemed to have picked up momentum as the government eased out restrictions in the sector, thus reflecting a jump of 17% between April 2020 and March 2021. While the overall postings for job roles in construction remained low, the jobseekers interest (clicks) was high throughout the pandemic.
Sashi Kumar, MD, Indeed India, said, The turnaround in construction and real estate hiring is a sign of hope, because job creation at scale is at the heart of economic recovery. The pandemic drag on real estate projects does not appear to have impacted the demand for skilled construction workers, while Indeeds top jobs in real estate reflect the sectors response to the rise of remote work, talent migration and the demand for flexible workspaces. As we navigate a second wave, it is important to ensure the continuity of mass employment sectors like construction and real estate and their ancillary sectors that are slowly but surely rebounding from last year.