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India continues to make steady economic recovery after two years in the doldrums following the outbreak of Covid-19. The positive sentiment was reflected in the job market, with hiring activity recording a 38% on-year growth in April.

The Naukri.com JobSpeak Index, which calculates hiring activity based on job listings on the website on a month-on-month and year-on-year basis, stood at 2,863 in April. Naurki.com compiles the data from client postings on its website with July 2008 taken as the base year. The base index value in 1,000 and all subsequent monthly indices is compared with the July 2008 data.

The hiring trend was steady across cities and experience bands. Some sectors even registered triple-digit growth in April compared to the year-ago period. 

TRAVEL & HOSPITALITY AND RETAIL BOUNCE BACK

Several sectors witnessed robust recovery as renewed optimism in the business environment led to high recruitment. Travel & hospitality and retail, two sectors worst-hit by the pandemic, recorded triple-digit on-year growth at 169% and 112%, respectively. The freshers’ band of 0-3 years witnessed the highest growth at 214% in travel & hospitality, according to the JobSpeak Index.

The education sector, growing at 108%, also indicated strong demand for talent. Real estate at 89%, insurance at 83%, and BFSI at 77%, also registered a significant growth in hiring activity. Sectors such as auto/auto ancillary at 37%, telecom at 36%, and FMCG at 34%, also recorded positive hiring growth.

DOUBLE-DIGIT HIRING DEMAND IN METROS AND NON-METROS

Both metro and non-metro cities witnessed double-digit hiring demand. Mumbai recorded the highest demand in new talent among metro cities with 63%, followed by Delhi at 47%, Pune at 38%, Kolkata at 38%, Chennai at 34%, and Hyderabad at 32% (see Naukri.com graphics).

Among non-metro cities, Coimbatore led the table with 63% hiring growth in April. Jaipur came in second place at 50%, followed by Vadodara at 32%, Kochi at 24%, and Ahmedabad at 22%.

ALL EXPERIENCE BANDS ATTRACTIVE

There was steady demand for professionals across experience bands in April. Freshers (0-3 years) witnessed the highest growth at 52%, followed by the 4-7 years and the 13-16 years bands at 37%, over 16 years band at 33%, and 8-12 years band at 24%.

Naukri.com Chief Business Officer Pawan Goyal said of the hiring trends: “The new financial year has witnessed a strong sentimental uplift when it comes to hiring activity across all parts of the country.”

“…These are good signs indicating that the nation is on the path to economic recovery and we are hopeful that in the coming months hiring activity will continue its strong momentum.”

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Author: Howard Caldwell