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IT, retail register double-digit sequential growth in hiring in March: Naukri JobSpeak

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The Economic Times
08th April, 2021 12:01 IST

The information technology and software sector recorded 11% growth in hiring in March compared to the previous month riding on the back of a faster pace of digital transformation due to the pandemic, according to latest data from Naukri JobSpeak Index.

The retail sector, which was severely impacted by the pandemic, is also seeing robust revival as sequential hiring in the sector saw an uptick of 15% in March, showed the data.

At an overall level, the Naukri JobSpeak Index for March, at 2,436, witnessed an uptick of 3% in hiring activity compared to February at 2,356.

“Overall, hiring activity shows a robust growth of 23% in the Jan-Mar as compared to Oct-Dec,” said Pawan Goyal, Chief Business Officer, “The IT sector has been at the forefront of fuelling this growth and it is encouraging to see sectors like retail and accounting/finance also showing promising recovery over the past few months. With the economy opening up, recruiters are ready to hire again, and 83% confirmed this in our latest Naukri Hiring Outlook survey,” he added.

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

Key sectors such as oil and gas (+7%), accounting/taxation/finance (+6%) and telecom/ISP (+5%) showed an uptick in hiring in March versus February. On the other hand, sectors such as BPO/ITES (1%) and BFSI (1%) witnessed a flat sequential trend. With the second wave of Covid-19 underway, the education/teaching (-13%), FMCG (-10%) and hotels/airlines/travel (-8%) sectors experienced a decline in sequential hiring in March.

All six metros and key Tier-2 cities witnessed sequential growth in hiring during the month barring Kolkata (-3%) and Vadodara (-2%) that saw a slight decline in hiring. Within metros, Bengaluru and Mumbai led the sequential growth at 13% and 8% respectively followed by Hyderabad (7%) and Chennai (6%). Ahmedabad registered the highest hiring growth of 13% among Tier-2 cities in March.

With organizations ramping up efforts towards digitization, hiring for tech professionals has gone up by 10% in March versus February. The demand for professionals in marketing/advertising (10%) and HR/administration (8%) roles also saw an uptick in March while the demand in sales/business development (-6%) roles saw a sequential decline. Hiring for professionals with 4-7 years (6%) and 8-12 years (6%) experience saw the highest sequential growth in March. However, leadership hiring (over 16 years’ experience) declined by 3% in March versus February.

Year-On-Year Hiring
Hiring in March this year grew by 25% compared to the same time a year ago, when the surge of Covid-19 cases had led to a nation-wide lockdown. Job opportunities in the IT-software (42%), medical/hospital (33%) and retail (24%) sectors showed year-on-year growth. However, the hospitality and travel sectors registered a decline of 11% in hiring in March.

A majority of metro and non-metro cities saw growth in hiring activities except Mumbai, which saw a flat trend (0%) and Coimbatore, which saw a decline of 4% in March 2021. Within metros, Hyderabad (46%) and Bangalore (37%) led the year-on-year growth in hiring in March. Tier-2 cities such as Chandigarh (43%) and Ahmedabad (40%) also saw an uptick in year-on-year hiring activity.

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