Pandemic-induced weak job markets see a drastic growth of Indians Turning Entrepreneurs

Feb 25 2021 09:35 AM
Pandemic-induced weak job markets see a drastic growth of Indians Turning Entrepreneurs

While the job market still looks bleak in India after a pandemic-hit 2020, the world’s professional network LinkedIn said on Wednesday it has seen a 10 percent growth in members with the title ‘founders’ or ‘co-founder’ on their profiles on the platform.

Entrepreneurship looked up for Indian professionals last year. “This uptick in new entrepreneurs was particularly strong in the fields of mental healthcare, e-learning and online media,” according to the latest LinkedIn ‘Workforce Confidence Index’.

Based on the survey responses of 1,752 professionals, findings from January 1-29 revealed that professionals in India are confident about career progress despite growing uncertainties about the job market and financial future in the current environment. Nearly 80 percent of professionals are confident about skilling opportunities, while 79 percent are confident about the strength of their CVs.

The survey attributes this dip in optimism to the workforce’s growing concerns about the status of the pandemic, surmounting expenses, and job availability in the present economic climate. The survey showed that while India remains resilient, professionals from different generations have contrasting reasons to stay confident in these testing times.

While 92 percent of Gen X and 98 percent of Baby Boomers say the strength of their work experience and academic qualifications makes them more confident, 86 percent of millennials state they are more inspired by opportunities to grow their skills and climb the ladder.

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