The Indian economy is growing at a steady pace, the job market is also seen growing consistently. Positive hiring sentiment is witnessed across different sectors, experience levels, and cities in the country.
Since the start of 2022, the country’s hiring activity has shown an upward growth trajectory. The latest Naukri JobSpeak Index stood at 2878 which is only second to the peak on February 22 when it crossed 3000.
According to the report, this year observed a +22% y-o-y growth in June’22 v/s June 21.
There has been a high demand for hiring entry-level talent making freshers rejoice. Till Jun '22 this year has had the highest yearly growth +30%, as per reports.
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’22 v/s June 21.
The travel and hospitality industry showed a maximum surge in hiring activity in June’22 v/s June’21 at +125%. A similar trend was seen in industries like Retail +75% and BFSI +58% showing growth in hiring when compared with June’21, while reflecting a stable MOM ( month on month ) trend.
Interestingly, this growth in hiring for Freshers was led by various sectors including Travel & Hospitality +158%, Retail +109%, Insurance +101%, Accounting Finance +95%, BFSI +88%, and Education +70%.
Other key sectors that saw an uptick in YOY ( year-over-year) trends are Insurance +48%, Education +47%, Real Estate +46%, Auto (+37%), and Oil & Gas (+36%) while Telecom and Pharma/Biotech remained flat.
Job 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% y-o-y growth.
Amongst the metro and tier-2 cities, the hiring of entry-level professionals surged specifically in Mumbai +93% and Kochi +105%.
Other metro cities such as Kolkata +29%, Delhi +29%, Chennai +21%, Bangalore +17%, Pune +15%, and Hyderabad +11% continue to show positive growth in June’22 vs last year.
Amongst the non-metro cities, Coimbatore showed the maximum y-o-y growth at +60% on June 22. Other tier-II cities also witnessed a surge as Kochi +51% and Jaipur +19%.
The Index was calculated based on hiring activity on the job listings on the Naukri.com website month on month and year on year.