Indian job market records strong recovery in August, grows 89% - Naukri JobSpeak

IT and Education Sector Companies were Leading the Hiring in August.

 

The pandemic sure did change the scenario of work culture across the world, where many were jobless, got no pay and faced other uncertainties. According to Naukri JobSpeak, hiring activity in India has been on an increase post the pandemic, as per the stats, an 89% year-on-year growth was recorded in August. The hiring index was at 2673 last month, which surpassed the pre-pandemic levels of August 2019 by 24%.

IT sector companies were leading with 79% hiring in August compared to August 2019. Education sector had a great bounce back with growing 102% hiring surpassing pre-pandemic levels. Other sectors which have been showing a consistent increase in hiring now against pre-pandemic numbers include real estate (15%), telecom (13%), medical/healthcare (8%), pharma/biotech (7%), insurance (6%), and BFSI (5%).

While talking about the travel industry, the rules laid down by the sector has been an obstacle for the industry and hence the sector is still down by 53% in comparison to August 2019, but compared to the situation last year, hiring in the sector rose 134% last month.

Pawan Goyal, chief business officer, Naukri.com, said that “With a fair share of setbacks in 2020, we can finally acknowledge a trend of overall recovery in the job market,” adding that while numbers in the January-May period were still in the red when compared to those of 2019, the positive growth trend started in June 2021.

Post pandemic as major industries are recovering, hiring for certain roles have gained the momentum up with increased movement across the market. Hiring for HR/Admin and IT-Software roles were on a significant high year-on-year in August.

Experienced employees have been benefitted from this hiring boom. Senior professionals with 8-12 years of experience were much in demand & saw the maximum year-on-year increase of 110% last month. From the category of other experience bands such as 0-3 years (79%), 4-7 years (91%), and over 13 years (65%) also recorded significant year-on-year growth.

Considering the hiring activities at city level, hiring in the top six metros was increased 39% in August when compare with August 2019. IT hubs that recorded maximum hiring includes Bengaluru (66%), Hyderabad (61%), Pune (54%), and Chennai (30%). Delhi-NCR and Mumbai’s recovery pace has been little slower in comparison, but was up by 16% and 4% respectively.

Coming to Tier-2 cities, a gradual recovery has been noted, an up 10%, where hiring in Ahmedabad was 27% and Chandigarh 23%.

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