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Festive cheer: Hiring picks up ahead of festive season; Naukri JobSpeak

Ahead of the festive season, the Indian job market has picked up pace with companies ramping up their operations, according to the Naukri JobSpeak report. There was a spurt in hiring activity in September 2022 with the Naukri JobSpeak index touching 3103 and recorded a double-digit growth at +13% YOY and +10% sequential growth.



Insurance sector led the charts as it recorded a sequential growth of +90% YOY in September 2022, while growing by +71% YTD. Apart from insurance, real estate has also significantly jumped in hiring intent as it grew by +66% Y-O-Y. Other sectors such as BFSI (+64%), travel & hospitality (+48%), oil & gas (+43%), auto (+23%), FMCG (+20%), and retail (+17%) also continue to do well, according to Naukri release.

However, the IT sector slowed down recording -6% YOY de-growth in September 2022 vs September 2021 but on month-on-month hiring activity has gone up by +8% indicating signs of recovery. Apart from IT, even medical/healthcare (-6%) also recorded degrowth in September 2022.

Hiring activity in metros

Amongst metros, Mumbai topped the hiring charts as it witnessed +27% Y-O-Y growth. Other metros exhibited positive annual hiring growth, barring Bengaluru (-8%). In terms of monthly hiring charts, Delhi rose to the top after registering +14% growth, while Hyderabad (+11%), Kolkata (+11%), Pune (+9%), Chennai (+8%), and Bangalore (+7%) followed close.

Amongst emerging cities, Coimbatore (+25%) witnessed the highest uptick in hiring activity. Other cities such as Ahmedabad (+23%), Jaipur (+17%), and Chandigarh (+11%) also showed positive hiring growth. However, Kochi and Vadodara remained flat.

Leadership roles see maximum jump

The demand for professionals across all experienced bands remained steady in September 2022 vs last year. Professionals with more than 16 years of work experience saw the steepest uptick at +15% followed by 13-16 years of work experience recording +10% growth. Professionals with 8-12, 4-7, and 0-3 years of experience exhibited positive growth at +10%, +8%, and +9% respectively.

“The JobSpeak Index crossing the 3100 mark in September 2022 is a great sign marking strong intent amongst recruiters before the festive period kicks in. It is notable to see that key sectors of insurance and real estate have maintained their growth momentum and have recorded sterling performances,” Pawan Goyal, chief business officer, Naukri.com, said.

The Naukri JobSpeak is a monthly Index that calculates and records hiring activity based on the job listings on the Naukri.com website month on month and year on year.



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