Compared with last year, it was down by 58%, showed the job statistics put together by staffing firm Xpheno.“The tech sector is experiencing an extended bad weather that has dropped active talent demand to record low levels,” said Anil Ethanur, cofounder, Xpheno. “A 67% year-on-year drop in tech sector's active talent demand is unprecedented and has further diminished IT's position as a key talent consuming sector.”Lower discretionary expenditure could have an impact on jobs in other sectors as well. “Low demand volumes clubbed with a drop in velocity of hiring will have long-term impact on the tech talent ecosystem,” Ethanur said. The previous record lowest contribution is the 40% recorded in April. The sector had earlier registered an 82% dominating contribution a year ago in January 2022.

Source: Economic Times June 04, 2023 19:13 UTC