The Wheebox India Skills Report 2023
The Wheebox India Skills Report 2023, which was released recently, found an increase in the employability of Indians over the past one year.
About Wheebox India Skills Report 2023
The Wheebox India Skills Report 2023 was compiled by trade bodies, companies, educational institutions, and others. These include CII, AICTE, AIU, Sunstone, Pearson, AWS, Economic Times and Taggd. The report came as a result of the evaluation of 3.75 lakh candidates or freshers who took the Wheebox National Employability Test (WNET) across India and the participation in the Early Career Edition of the India Hiring Intent Survey by 150 corporations from 15 different industries.
What are the key findings of the Wheebox India Skills Report 2023?
- The last one year witnessed an increase in the employability of Indians. The evaluation found that 50.3 percent of the candidates were employable – a significant increase from the last year’s 46.2 percent.
- Among the domains, B Com, MBA and B Pharm graduates were the most employable. Graduates in the fields of Polytechnic and MCA were the least employable.
- The 52.8 percent of women workforce are employable. This is higher than the 47.2 percent of employable men. The consistent increase in women’s employability over the past decade is a positive sign of far-reaching changes in the country’s growing labour market.
- The current share of women in Indian workforce is 33 percent. This is lesser than the of males at 67 percent. In countries situated in South America, Asia, and Africa, women account for 36 percent of the total workforce.
- Rajasthan has the highest percentage of employable females who are prepared for the workforce (53.5 percent). The state with the second-highest percentage of employable females is Uttar Pradesh (46.5%).
- Sectors that are currently having high demand for skilled labour in India are BFSI, pharmaceutical, e-commerce, and IT sectors. The hiring of freshers in these industries is expected to surge by 20 percent in 2023, when compared to 2022. Sectors like automotive, engineering, and internet business are expected to witness the most hiring.
- Uttar Pradesh, Maharashtra and Delhi are expected to have the most employable talent in 2023.
- The report recommended policy-level changes to increase workforce participation both in private and public sectors.