Job losses among salaried employees likely to get worse: CMIE's Mahesh Vyas

India’s salaried jobs are seeing the impact of Covid-induced lockdowns play out more slowly, and it will be more difficult to get these jobs back, Mahesh Vyas, managing director of the Centre for Monitoring Indian Economy (CMIE), says.

The number of salaried people who have lost their jobs amid the Covid-19 pandemic has now surged to 18.9 million, and about 5 million jobs were lost in July alone, CMIE finds. On the other hand, the number of non-salaried, informal jobs has increased.

This shock to the Indian economy will lead to a market shift: Larger companies will gain market share,