Tatsat Chronicle Magazine

Job hirings Rise by 22% on Year-On-Year Basis, Says Naukri.com

July 5, 2022
Job hirings

Post-pandemic hiring activity in the country continues to remain bullish with a report suggesting that it grew 22% on year-on-year (YoY) in June 2022. According to data published by employment website Naukri.com, based on its JobSpeak index, which stood at 2,878, which is only second to the peak in February 2022 when it crossed 3,000. Since the start of this year, the country’s hiring activity has shown an upward growth trajectory.

The report said that demand for entry-level talent continues to record the highest yearly growth (30%) in June this year. Additionally, the growing hiring sentiment was observed for other experience brackets such as 4–7 years (19%), 8–12 years (17%), 13–16 years (21%), and over 16 years (17%) in June compared to the figures one year ago. The report said that hiring for entry-level professionals surged specifically in Mumbai (93%) among metros apart from Kochi (105%) in the tier-2 cities.

The growth in hiring for freshers was led by various sectors including travel and hospitality (158%), retail (109%), insurance (101%), accounting finance (95%), BFSI (88%), and Education (70%). Amongst industries, travel and hospitality continued to show maximum surge in hiring activity this year at more than 125%. This was followed by retail (75%) and BFSI (58%).

Other key sectors that saw an overall increase in YOY trends included sectors like insurance (48%), education (47%), real estate (46%), auto (37%) and oil and gas (36%), while demand in telecom and pharma/biotech remained flat.

The demand in metros and non-metros continued to show an optimistic upward trend. Amongst metros, Mumbai continues to lead the race in three consecutive months at 43% increase in hiring. Other metros such as Kolkata (29%), Delhi (29%), Chennai (21%), Bangalore (17%), Pune (15%), and Hyderabad (11%) continued to show positive growth in June this year as compared to last year.

Amongst the non-metros, Coimbatore showed the maximum y-o-y growth at 60%. Other tier-II cities also witnessed a surge as Kochi (51%) and Jaipur (19%). The only centers that remained flat are Ahmedabad and Chandigarh.

“With the Indian economy growing at a steady pace, the job market is also seeing a consistent uptick in hiring activity across key sectors and cities. This upward trend is a positive indication as a significant proportion of new job opportunities are being created for professionals across sectors and experience bands,” said Pawan Goyal, Chief Business Officer, Naukri.com, in a statement.

The Naukri JobSpeak is a monthly index that calculates and records hiring activity based on the job listings on Naukri.com website month-on-month and year on year. The objective of Naukri JobSpeak is to measure the hiring activity in various industries, cities, and experience levels. The data is compiled from the website wherein jobs posted by clients on Naukri.com are considered. July 2008 is taken as the base with an index value of 1,000 and the subsequent monthly index is compared with the data for July 2008. The report shows hiring trends across industry sectors, geography, and experience level.

More than 76,000 clients use Naukri.com, leading to the high reliability of data. The report does not cover gig employment, hyperlocal hiring, or campus placement. Data on functional area hiring has been retired due to changes in the nomenclature. Over a long period of time, Naukri JobSpeak could be impacted by factors like internet penetration, market share, pricing and job listing drives.

Girja Shankar Kaura

The writer is a Delhi-based freelance journalist, who has reported and written on a wide range of subjects in an extensive career.