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IT brings dry spell to white-collar job market in July

Data from LinkedIn and top company job boards, collated by specialist staffing company Xpheno, showed a third consecutive month of decline in the total number of active white-collar roles in July to 270,000 as against 300,000 in June and 330,000 in May

Source | economictimes.indiatimes.com | Rica Bhattacharyya, ET Bureau

India’s white-collar job market recorded its lowest count in more than a year in July as the IT services industry, the biggest employment generator in the organised sector, saw a drop in the number of open vacancies for five months in a row and advertised for the fewest roles since the peak of the second Covid wave.

Data from LinkedIn and top company job boards, collated by specialist staffing company Xpheno, showed a third consecutive month of decline in the total number of active white-collar roles in July to 270,000 as against 300,000 in June and 330,000 in May.

The total number of open white-collar positions accepting applications in July was 7% down year-onyear, and matched the lowest count of June 2021, when residents were virtually padlocked at their homes.

Executives and economists are of the view that companies will be cautious in their hiring plans over the next two quarters as the focus shifts to the global economic outlook and leading local gauges, such as consumer inflation, liquidity management and the broader interest-rate trajectory.

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Source
economictimes.indiatimes.com
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