Jobs

The scary numbers: A jobs crisis like no other

Crisis like no otherGetty Images
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Crisis like no other
Massive unemployment has started hitting urban India. For many sectors, the worst is yet to come. Thousands of young Indians are losing jobs, most with minimal notice, in a country without a formal safety net. Tech, ed-tech and banking/fi nance are the few bright spots. Here’s the data that frames this economic and social crisis.
Media & Entertainment
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Media & Entertainment
Pre-Covid Employees: 6 Million
Job Losses Due To Covid: 600,000 to 720,000 by June

Can It Get Worse?
Yes. If entertainment indus try faces demand crunch

Standout factoid
With virtually no ad revenue, media industry has been hit hard. Broadcasting (5% job cuts), radio (8-10%) and print media are facing job losses.
Real EstateBCCL
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Real Estate
Pre-Covid Employees: 70 Million
Job Losses Due To Covid: 14 million and counting

Can It Get Worse?
YES. Demand was already low. Middle class may defer home-buying

Standout factoid
Hardest-hit are migrants, 70% of workforce
EducationiStock
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Education
Pre-Covid Employees: 18 Million
Job Losses Due To Covid: 3.6-4.5 Million

Can It Get Worse?
YES. If online education gains ground
RestaurantsANI
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Restaurants
Pre-Covid Employees: 7.3 Million
Job Losses Due To Covid: 2 Million

Can It Get Worse?
YES. Dining out may not recover for months

Standout factoid
4 out of 10 restaurants may never reopen
Internet Businesses
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Internet Businesses
Pre-Covid Employees: 4,00,000
Job Losses Due To Covid: 80,000-100,000 since lockdown

Can It Get Worse?
Yes. Low demand, tight funding may claim more jobs

Standout factoid
Ola has fired around 5,000 this year
Auto ManufacturingReuters
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Auto Manufacturing
Pre-Covid Employees: 5 Million
Job Losses Due To Covid: 2-3 Million

Can It Get Worse?
Yes. Demand is likely to stay low

Standout factoid
55% of employees on contract, who can be fired easily
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