Clipped from: https://economictimes.indiatimes.com/jobs/education-real-estate-bfsi-show-sequential-hiring-growth-in-january-naukri-jobspeak/articleshow/80834335.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis
The monthly index that calculates and records hiring activity based on the job listings on Naukri.com website showed education/teaching domain sector recording a 11% increase in hiring in January versus a month ago as colleges and schools are set to re-open after remaining shut for nearly ten months following the Covid 19 outbreak.
The monthly index that calculates and records hiring activity based on the job listings on Naukri.com website showed education/teaching domain sector recording a 11% increase in hiring in January versus a month ago as colleges and schools are set to re-open after remaining shut for nearly ten months following the Covid 19 outbreak. The insurance sector (+8%) also registered growth in sequential hiring as the demand for health insurance has gone up.
Other key sectors such as real estate (+13%), retail (+7%), BFSI (+5%) and BPO/ITES (+3%) too have shown growth in month-on-month (M-O-M) hiring in January. Sectors such as auto/ancillary (-14%) and telecom (-8%) are still experiencing a slowdown in sequential growth as the country gradually returns to normalcy.
At an overall level, the Naukri JobSpeak Index for January at 1,925, remained flat (-2%) in hiring activity as compared to December, at 1,972. In addition, at a year-on-year (Y-O-Y) level, the overall hiring showed a decline of 19% in January.
Key tier-2 cities saw an uptick in recruitment activity last month as hiring in Vadodara (+9%), Chandigarh (+8%), and Jaipur (+6%) grew sequentially. However, all metro cities namely Bangalore (-3%), Hyderabad (-3%), Kolkata (-4%), Mumbai (-4%), Chennai (-3%) and Delhi (-2%) saw a marginal drop in hiring at a M-O-M level.
“While overall hiring is down by 19% at a Y-O-Y level in Jan’21, it is interesting to see sectors like education, BFSI and real estate show growth in hiring sequentially,” said Pawan Goyal, Chief Business Officer, Naukri.com. “Emerging cities led by Vadodara and Chandigarh are driving hiring and have outperformed metros as they record a better recovery at a M-O-M level,” he added.
Compared with the same time a year ago, the hiring activity in January declined by 19%. The pharma/biotech (-9%) and IT-Software (-11%) sectors were least impacted at a Y-O-Y level while the hospitality/travel sector continued to be the most impacted with a 61% decline in hiring in Jan 2021 versus Jan 2020. Other key industries such as BPO/ITES (-18%), BFSI (-29%) and insurance (-23%) also contributed to the overall decline in hiring trend in Jan 2021 versus last year.
While the entry-level experience band (0 to 3 yrs exp) witnessed the sharpest decline of 26% in hiring activity, the 13+ yrs experience band saw the least decline of 9% in Jan 2021 versus a year ago.