According to TeamLease report, Sectors including ecommerce, BFSI (banking, financial services and insurance) and BPO-IT-enabled services could see a drop of up to 37% in 2019-23 compared with the earlier estimates for 2018-22. And credit goes to Automation.
Rituparna Chakraborty, Co-Founder and EVP, TeamLease said, “Fewer Jobs possibly if we do not focus on ease of doing business and expedited labour reforms to allow employers to hire more and expand than allow automation to take over”.
She also added, “One can’t predict the future in a dynamic world hence while the immediate next year outlook seems bright and optimistic based on our Employment Outlook Report (#EORHY1) lets watch out for effects of any lack of action today into our long term future.” This doesn’t call for #Rudaali. It calls for affirmative action to secure our long term future.
She feels long-term job creation for most sectors will fall unless steps are taken to “counter the impending effects of AI.” Earlier, a McKinsey study found that 56 million Indians could lose their jobs to automation by 2030.
Sectors in which job creation has slowed down include marketing and advertising; agriculture and agrochemicals; telecommunications; knowledge process outsourcing; information technology; media and entertainment; and healthcare and pharmaceuticals.
Report says, the silver lining is ‘new age skills’. Employers are rewarding those with such niche skills handsomely. Those with relatively older skills are seeing lower salary growth.