The job creation in the country may struggle in the coming months as the Indian economy is expected to take more than a year to revive. It is also expected that the use of technology to substitute labour would increase, reducing the demand for labour, said a report by Care Ratings. The employment growth number for FY21 is likely to contract for several industries, especially in the services segment. In contrast, IT, banking and finance will continue to be the job creators as they have been less impacted by the coronavirus-led lockdown, the report added.
The revival in demand will largely determine the growth in employment for consumer-oriented industries while investment trends may drive the same for the capital goods related industries. Employment condition in the country was already daunting