Jobs

IT sector may drive the white collar job market this pandemic year

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In May, India’s unemployment rate grew to its highest level in the last one year at 11.9 per cent, as per data from the Centre for Monitoring Indian Economy. But in the last two weeks of the same month the country saw a significant spike in white collar IT sector hiring, said Kamal Karanth, Co-Founder, Xpheno to ET Now.

According to Karanth, it is clear that the IT sector is going to be driving the job growth this year as it is showing “huge bullishness” in terms of hiring. “We see close to 30,000 active jobs getting recruited by the IT sector every month for the next 12 months,” he said.

The critical reason for recruiting recovery has hinged on the fact that industries are more prepared this time around. “The critical part to note is that enterprises now know how the recovery happens compared to last year… There is a bit of a pattern that enterprises have recognised and even though we went into a lockdown there was a surge,” explained Karanth.

Though in the technology sector geographies no longer matter, big cities are still contributing the most to white collar IT jobs. Bangalore, Hyderabad, Bombay, Pune and Delhi are seeing the most hiring in that order, as per Karanth. “You can say that the non-IT jobs are not getting created at the same pace,” he added.

Xpheno’s report states that 15% of the jobs created in the last month were in Bangalore, showing the weightage that big cities still have on new jobs being created.

Karanth notes that no matter the job, “you will work on the same screen and from the same home.” The bulk of white collar job changes are happening purely because of money, which employees are getting more of in the IT sector, he argues.

Industry experts remain split in their views on the job scenario for the next three-to-six months. According to CMIE, recovery of the economy depends to a great extent on acceleration in the spending of relatively richer Indians.

The number of active job openings at the end of May stood at 2,05,000, especially in urban cities that account for the bulk of white-collar jobs. “June may well be the best month for hiring in the last 15 months,” Karanth remarked.

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