09 January,2023 03:59 PM IST | Mumbai | BrandMedia
Overall sentiment about economic growth remains high even while recessionary fears and geo-political tensions continue to haunt the industry in general.
According to Lohit Bhatia, President of Indian Staffing Federation, "Contractual staffing across industries has remained upbeat throughout last year, which was a welcome break from the uncertainties from the past two years. The labor market witnessed a robust growth for last mile workers, who did not have the option of working from home to the labor-intensive sectors like manufacturing, construction etc. Post pandemic consumer demands drove employment across e-commerce, retail, logistics and FMCG in the mid of the year." Indian Staffing Federation is an industry body with representation from staffing companies across India.
The first lockdown-free festive season since 2020 was something to cheer about. Consumer demand shot up resulting in similar demand for workforce. During the festive season there was a 25% jump in requirement for workforce to meet this sudden but welcome jump in consumer demand.
Over the months in 2022, labour demand came in from the retail, hospitality, tourism, ecommerce, logistics, banking and infrastructure sectors. Opening up of offices and educational institutions also brought demand for facility management and security services.
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Suchita Dutta, Executive Director, Indian Staffing Federation says, "We would call 2022 as the year of new employment growth as the flexi staffing industry continued to show around 20% year on year growth, which is much higher than pre pandemic years. As we continue to monitor the situation globally, India has shown strong resilience and we are witnessing balanced growth in workforce demand across sectors. Consumption led sectors like hospitality, aviation, tourism continued to lead the workforce demand in the latter half of the year."
According to industry reports metro cities saw maximum demand for workforce followed by tier cities. What the New Year has in store for the economy is not easy to predict these days but at the moment it seems that employment will continue to rise and India will have more first timers join the workforce. We will be ready to take stock of employment when the year ends.
