Slowdown in IT hiring

The IT sector in the country employs 3.96 lakh people, according to a NASSCOM estimate cited in Parliament during the Lok Sabha Question Hour.

However, the hiring growth rate has been receding over the past three years due to repetitive jobs being automated, reorientation of bench strength and employment of people with similar skill sets in other new and growing industries.

Going by the same answer given in Partliament, a NASSCOM estimate predicts that the IT-BPM sector will continue to hire at a rate of 3-3.5% year-on-year to reach 45 lakh total jobs by 2022.

In the below chart, the bar graph shows the number of new jobs generated each Financial Year and the line graph represents the percentage of hiring growth compared to the previous year.