Hiring peaks across key sectors in Feb – The Hindu BusinessLine

Clipped from: https://www.thehindubusinessline.com/todays-paper/tp-news/hiring-peaks-across-key-sectors-in-feb/article65202805.ece

Re-opening of the Indian ecosystem reinforced positive sentiment among employers and jobseekers

Re-opening of the Indian ecosystem reinforced positive sentiment among employers and jobseekers

Naukri JobSpeak index stood at 3,074 in February, up 31 per cent from last year

India’s hiring activity touched new heights in February 2022 according to Naukri’s JobSpeak index as the re-opening of the Indian ecosystem reinforced a positive sentiment among employers and jobseekers.

Naukri JobSpeak is a monthly index that calculates and records hiring activity based on job listings on the Naukri.com website.

It stood at 3,074 in February 2022, surpassing its previous high of 2,753 clocked in September 2021, and up by over 31 per cent year-on-year from February 2021.

Growth across sectors

“As the Indian economy sees a gradual return to normalcy, sustained growth in hiring activity was observed across all key sectors,” the report said. The insurance sector clocked the highest growth at 74 per cent y-o-y, followed by retail at 64 per cent.

“Interestingly, after a long sluggish period, the auto industry finally showed signs of recovery in February 2022,” the report said. The sector recorded a growth of over 12 per cent as compared to the previous year.

Sectors such as IT-software/software services (41 per cent), banking/financial services (35 per cent), pharma (34 per cent), hospitality (41 per cent) and telecom (23 per cent) continued to demonstrate strong and consistent growth as “concerns around Covid reduced drastically in February 2022,” it added.

Growth in hiring activity in medical/healthcare (7 per cent) and FMCG (4 per cent) was comparatively lower.

Upsurge in metros

Metros continued to observe an upsurge in hiring even as emerging cities show promise, said the report.

Kolkata recorded the highest y-o-y growth at 56 per cent, closely followed by Bengaluru (49 per cent), Mumbai (45 per cent), Chennai (45 per cent), Hyderabad (43 per cent), Pune (41 per cent) and Delhi (30 per cent).

In non-metro cities, Coimbatore recorded the highest y-o-y growth (57 per cent) beating its past trend, followed by Ahmedabad (32 per cent) and Kochi (16 per cent). Jaipur (15 per cent) saw shoots of success while Vadodara remained flat (-3 per cent) as compared to last year.

Experience wanted

Demand for professionals across all experience bands grew by over 25 per cent. “The hiring trend across all the experience bands tread on a positive y-o-y growth trajectory,” the report said.

When compared with last year, the demand for mid to senior experienced professionals belonging to the 13-16 years category witnessed the highest growth at over 35 per cent. The demand for professionals with 8-12 years of experience (31 per cent), 0-3 years (30 per cent), 4-7 years (30 per cent) and above 16 years (27 per cent) bracket also remained strong.

Pawan Goyal, Chief Business Officer, Naukri.com, said, “Naukri JobSpeak has set a new benchmark, indicating a favourable time for the white collar job market. With sectors like auto/auto ancillary showing recovery after a long time and other major organised sectors sustaining growth, one can say that both sentiment and confidence are strong among jobseekers.”

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