The job market has been tough for some of the country’s most sought-after corporate and financial services professionals.
The latest data suggests the job market in India has seen a sharp decline since the government cut its growth target for the year to 6 per cent.
Data from the Ministry of Human Resource Development shows the number of jobs created in the country dropped to 1.1 million last year, a fall of 3 per cent compared to a year ago.
The number of job vacancies was 5.3 per cent higher.
Data shows the job vacancies in the government sector rose by 1.7 per cent last year.
The data shows that the number jobs created for the last fiscal have not been higher than the 2.8 million jobs that were created in 2015.
The job vacancies also grew at an alarming rate of 6.3 lakh in the last 12 months.
The unemployment rate, meanwhile, was at 14.5 per cent in the latest data.