According to an Economic Times study of the 30 Sensex companies, the growth pace of white-collar jobs in India has almost halved in the fiscal year 2023-24 compared to five years ago. It recorded an annual growth of 4.4% in this type of jobs in 2023-24, compared to 8.4% in 2018-19.

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Why has white-collar job growth slowed in India?

HR analysts attributed the crisis to strains in the technology and consumer sectors, while management believed that slower growth would hamper the recovery in consumption.

To what extent did the top companies face the decline in white-collar jobs?

Six companies, including Infosys, SBI, HCL Technologies, Tata Motors, Titan Company and Ultratech Cement, saw a decline in net employment in 2023-24 compared to 2022-23.

At TCS and Wipro, employee numbers decreased by 13,249 and 23,257, respectively, in 2023-24 compared to 2022-23.

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At Infosys, employee numbers fell by nearly 26,000 to 317,240 in 2023-24.

At HCL Technologies, Tata Motors and Ultratech Cement, while the number of permanent employees increased in 2023-24, the total number of employees decreased due to a reduction in “non-permanent” positions based on contracts and third parties.

What was the overall employment growth in India?

However, government data shows a decline in India’s overall unemployment rate, with net wage increases under EPFO ​​more than doubling in the last five years, suggesting healthy growth in formal employment.

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