New Delhi

Landing that first job just got tougher for fresh graduates entering the workforce today.

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A recent report by Indeed, paints a sobering picture, revealing a downward spiral in entry-level hiring since 2021.

The data indicates several new troubles for fresh graduates.

Shrinking opportunities

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Fresher job postings have dropped 8.5 per cent since December 2021, and applications (job clicks) have plummeted by 34.3 per cent. This translates to fewer opportunities available in the job market.

Waning enthusiasm

Graduates themselves seem less eager, with demand for entry-level roles dipping 37.4 per cent year-on-year. 

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This decline in interest could be due to several factors, including hesitation to enter a volatile job market, skill mismatch with evolving tech landscapes, or differing salary expectations.

Economic instability

Global economic uncertainties and market fluctuations in the main culprit behind this double whammy.

With high economic instability, companies are adopting a cautious approach, holding off on large-scale fresher hiring until the outlook clears.

This is particularly evident in the tech sector, where companies are re-evaluating their recruitment strategies amidst dynamic market shifts, leading to a noticeable reduction in campus hiring initiatives.

Hope on the horizon

While the report sounds concerning, there are silver linings.

Sashi Kumar, Head of Sales at Indeed India, clarifies, "This doesn't mean fresher hiring is at a standstill. Other areas like admin, sales, marketing, etc., continue to have opportunities for new graduates."

He attributes the current cautiousness to companies waiting to see how the next few quarters pan out before committing to large-scale hiring.

Where are the jobs?

The report identifies specific sectors still actively seeking fresh talent:

Admin: Taking the lead with an 11.5 per cent share of fresher job postings.

Tech and Software: Despite the slowdown, still the second-largest recruiter.

Sales: Offering 6.39 per cent of entry-level opportunities.

Marketing: Accounting for 5.47 per cent of fresher job postings.

Management: With a 4.87 per cent share.

Sharpen your skills to stay ahead

While the job market might be cooling down, Kumar emphasises the importance of equipping oneself with relevant skills to stay competitive.

"As we observe the hiring landscape, it will be crucial for freshers to arm themselves with new-age digital skills that can be a competitive advantage as companies begin to hire again," he advises.