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quess: The Indian labor market shows a significant recovery in employee numbers in March, Quess data show

The Indian labour market witness one sharp recovery in March, when the number of payrolls rose 18.4% year-on-year as restrictions eased and economic activity picked up again, according to data from AllSec Technologies, a business process services (BPS) provider and a ask Society.

The travel and hospitality sector, which has been hardest hit by Covid-related lockdowns over the past two years, has seen a robust recovery with headcount growing 47.6% on the month, the data showed. This is in sharp contrast to the 48.7% drop in March 2021 from March 2020.

“We’ve seen an upbeat recovery pattern across industries this month… Keeping an eye on the government’s job creation efforts across the business, we’re confident of seeing a positive trend over the coming months sectors as seen in the budget and the economic revival of the country,” said Ashish Johri, CEO of Allsec Technologies.

Employment numbers are sourced from AllSec Technologies internal data across multiple industries Industry sectors.

The energy sector saw a 41.5% annual increase in headcount this year (March 2022 vs. March 2021) and has comfortably exceeded pre-pandemic levels with growth of 42% (March 2022 vs. March 2020).

The IT/ITes industry performed remarkably well, up 27% in March, accompanied by logistics, which posted growth of 27.3%. Sectors such as finance (16.6%) and food and beverage (12.9%) also showed upbeat trends year-over-year.

The logistics sector has seen the highest growth compared to pre-pandemic numbers. Compared to pre-pandemic levels (March 2022 vs. March 2020), the logistics sector has seen triple-digit growth (178.3%) as budget accommodation encourages integrated logistics and multimodal connectivity, the survey found. Sectors that saw significant growth include energy (42%) and e-commerce (41.8%). The e-commerce and delivery industry has seen transformative growth amid retail store lockdowns and restrictions during the multiple waves of the pandemic. IT/ITes (29.4%) and Food & Beverage (19%) also did well.

https://economictimes.indiatimes.com/jobs/indian-job-market-shows-sharp-recovery-in-headcount-in-march-shows-quess-data/articleshow/90636196.cms quess: The Indian labor market shows a significant recovery in employee numbers in March, Quess data show

Dais Johnston

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