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The biggest reason for this trend is the significant decline in white-collar jobs in India. The most reliable source for comparing this is the monthly Naukri Jobspeak reports, published by Naukri.com, India’s largest white-collar jobs portal.
The biggest drops came in the IT industry, which was once the largest provider of respectable white-collar jobs for middle class graduates. Within the sector, hiring in hardware and networking declined by 30 percent; in software and software services by 26 percent; and in business process outsourcing (BPO), information technology enabled services (ITEs) CRM, and transcription by 16 percent.
The education sector, which is another major source of white-collar jobs, saw hiring decrease by 16 percent. A similar drop was seen in new hiring in retail. Fresh advertising, market relations, and public relations jobs also shrunk by seven percent over the past two years. Banking, financial services, and broking, which has been another crucial sector for white-collar jobseekers, also saw hiring shrink marginally.
In contrary , sectors that cater to premium customers did better. Hiring in accounting and taxation—typically dealing with corporate or affluent clients—rose by 30 percent. The premium real estate boom led to a 25 percent increase in hiring in architecture and interior design, and a seven percent increase in real estate.
With the rich spending more on restaurants and entertainment, white-collar hiring in media and entertainment has gone up by 14 percent, and by 9 percent in hospitality and travel.
The slowdown in IT sector hiring has been the biggest blow to the dreams of middle class youth from smaller towns. IT jobs held the promise of future wealth and status. Not only have IT job opportunities shrunk, but pay packages have also remained stagnant.
It is nobody’s contention that white-collar jobs are the only kind worth having. In most developed countries, traditional working-class jobs—plumber, fireman, factory worker, electrician—are not only well-paying, but are also treated with respect.
That, unfortunately, is not true in India. It will take a generation for attitudes to change. Until that happens, the number one task facing policy makers is to deal with the anger and frustrations among young educated people, who are rapidly losing all hope of a better future.
(The author was Senior Managing Editor, NDTV India & NDTV Profit. He tweets @Aunindyo2023. This is an opinion piece. The views expressed above are the author’s own. The Quint neither endorses nor is responsible for them.)
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