India job market saw 18.4% headcount growth: The key sectors that fuelled growth. Read here
1 min read 04 Apr 2022, 08:04 PM ISTAmong all sectors, the travel and hospitality sector has witnessed a robust recovery at 47.6% in payroll headcount in March 2022 as compared to the year-ago period
PremiumWith the COVID situation stabilising and the economy gradually returning to normalcy, the job market witnessed an 18.4% year-on-year growth in March. The growth was boosted by the travel and hospitality and energy sectors.
As per the report by the Allsec Technologies, among all sectors, the travel and hospitality sector has witnessed a robust recovery at 47.6% in payroll headcount in March 2022 as compared to the year-ago period. This was the worst-affected sector during the pandemic.
.However, a comparison with pre-pandemic numbers indicates that the travel and hospitality sector has not quite bounced back to the pre-pandemic levels as it witnessed a 24.3% de-growth in March 2022 as compared to March 2020, but is certainly on the way to recovery, it said.
Meanwhile, a 41.5% growth was witnessed by the energy sector in headcount this year as compared to March 2021. It has notably surpassed pre-pandemic levels with a 42% growth in March this year as compared to March 2020.
On the third spot remains the IT sector with a 27% uptick. Meanwhile, logistics saw a 27.3% growth.
The report is based on in-house data from Allsec Technologies, a comprehensive Business Process Services (BPS) provider that tracks the employment trends across various sectors.
“We have seen an optimistic recovery pattern across industries this month. It is heartening to see travel and hospitality lead the way, along with several other industries which were severely impacted by the pandemic. We are confident of seeing a positive trend in the months to come, keeping in mind the government's push for job creation across sectors as seen in the Budget and the economic revival of the country," Allsec Technologies (a Quess Company) CEO Ashish Johri said.
