The employment sector is also getting better in the economy recovering from the Corona crisis. Selected key figures for November show that for the first time in the last nine months, the employment sector has gained.
At the same time, the India Services Business Activity Index remained above 50 for the second consecutive month. The index stood at 53.7 in November. However, it declined slightly compared to 54.1 in October.
But for the second month in a row, it was above 50 (meaning business expansion). Pauliana de Lima, market Associate Director (Economics), IHS, said the contraction in the service sector from March to September ended in October and continued to improve during November.
Companies received new orders. To achieve this on time, companies increased the speed of work and the number of employees. According to Lima, service sector companies recruited more employees in November. Earlier, the sector was witnessing a shortage of jobs for eight consecutive months. It also contributed to the cheap loans being distributed by the banking sector.