While the new jobs in general staffing grew by 7.3% in the July-September quarter on the back of rise in demand in, e-commerce, manufacturing, retail, logistics, banking, hospitality, tourism, and infrastructure, new jobs in IT sector grew by a modest 2.2% during the second quarter.
“New jobs in IT staffing remained under pressure. While the IT staffing Industry continues to address market demands in niche skills, there is a visible impact of the slowdown in global markets even as big Indian IT players curtail new hiring,” ISF said in its second quarter report, released on Monday.
Cumulatively, Indian Staffing Federation’s member companies added 2.32 lakh new jobs over the past four quarters, during the period from October 2022 to September 2023. As on September 30, 2022, Indian Staffing Federation member companies represented 14 lakh flexi staffing workers across.
“The Indian staffing industry anticipated a steep rise in demand during the first lockdown-free festive season. Overall industry shows a resilient growth with new employment mobilized in the July-September quarter,” Lohit Bhatia, president, Indian Staffing Federation said.
ISF expects growth to continue in the coming quarters except for the IT sector where slow down in demand has led to a moderate increase in hiring in the IT sector.
“A year on year comparison shows that new employment in general staffing grew at 24.6% growth, which shows that the flexi staffing industry has moved out of the pandemic,” ISF said.