Here’s some bad news coming in from IT sector regarding jobs

Fresh engineering graduates will have to face some tough time looking for a job as hiring in the current financial year will be lower than the previous year.

The Indian IT body NASSCOM stated with IT companies facing pressure on margins and automation kicking, fresh jobs will be less.

"Hiring activity in the year before last was 2.20 lakh (new jobs were created in IT sector). Last year, (FY 2015-16) there were about two lakh additions. This financial year, we are expecting it to be on the lower side of that,” said National Association of Software and Service Companies (NASSCOM) President R Chandrashekhar.

He said fresh hiring will be either stagnant or decline as IT companies are adopting higher productivity by reducing the strength and focusing on automation.

“For a country like India, automation works differently as cost effectiveness on automation is different because our economic levels are different," he said.

While certain jobs within the industry may be automated, those which are off-shored are actually coming in to India. There is a loss of jobs because of automation within India and also because of a new set of jobs which are coming due to off-shoring and technology changes, he said.
"In short, for the next two years, we are still quite optimistic. Our fundamentals are stronger than others (countries),” he added.

(Image: Reuters)