Hiring Activity In India Grows By 26% In Nov’21, Annually
On the back of increased retail fervour, festive hype and the opening up of educational institutes, the Naukri JobSpeak index recorded 26% year-on-year (Y-O-Y) growth in Nov’21. The country’s premier index was trending at 2173 in Nov’21 vs. 1727 in Nov’20.
Retail sector (47%) picks up pace in hiring; shows signs of recovery in the festive season
The onset of the festive season marked the comeback of the retail sector - showing a 47% Y-o-Y growth in Nov’21. Another sector which traditionally benefited in the festive season was Hospitality/Travel (+58%). In a bid to fall back to normalcy, schools are primed to reopen across the country; The Education sector (+54%) experienced a resultant uptick in hiring.
Hiring activity in Nov’21 has also grown in major job creation sectors - Banking/Financial Services (+30%) and IT-Software (+50%), as compared to Nov’20. While the Telecom/ISP (+91%) industry continues to grow, the index reported a muted growth in Medical/ Healthcare (+3%) and FMCG (+6%) sectors.
Hiring in Metro and Tier-II cities record 39% and 16% average annual growth respectively
Continuous growth of the IT-Software and BFSI sectors have enabled metro cities to outperform their tier - II counterparts in the annual growth charts. The average Y-O-Y growth recorded in metro cities was 39% whereas non-metros grew at a slower pace of 16%. Hyderabad (+47%), Pune (+47%) and Bengaluru (+49%) recorded the highest growth in Nov’21. Hiring was also positive in Mumbai (+36%), Delhi/NCR (+34%) and Chennai (+35%) while Kolkata (+23%) witnessed relatively slower growth.
Among the non-metros, Ahmedabad (+61%) witnessed maximum growth in Nov ‘21 followed by Coimbatore (+28%).
8-12 yrs band once again records highest annual growth as all experience bands see positive Y-O-Y trend
Hiring across all experience bands was positive in Nov’21 as compared to Nov’20 with demand for senior professionals belonging to the 8-12 yrs (+37%) bracket witnessing maximum traction. Demand was also positive for professionals in the 4-7 yrs (+30%), 0-3 yrs (+27%), 13-16 yrs (+26%) and above 16 yrs (+20%) brackets.
Commenting on the report, Pawan Goyal, Chief Business Officer, Naukri.com said, “Being two of the worst impacted sectors of the pandemic, the Hospitality/Travel and Retail industry have stood out in their recovery. Riding the festive wave in the past few months, these sectors have grown by 63% and 56% annually from Sept’21 - Nov’21.”
Methodology
The Naukri JobSpeak is a monthly Index that calculates and records hiring activity based on the job listings on Naukri.com website month on month. The objective of Naukri JobSpeak is to measure the hiring activity in various industries, cities, and experience levels. The data is compiled from the website wherein jobs posted by clients on Naukri.com are considered. July 2008 is taken as the base with an index value of 1,000 and the subsequent monthly index is compared with the data for July 2008. The report shows hiring trends across industry sectors, geography, and experience level. More than 76,000 clients use Naukri.com, leading to the high reliability of data. The report does not cover gig employment, hyperlocal hiring or campus placement. Data on functional area hiring has been retired due to changes in the nomenclature. Over a long period of time, Naukri JobSpeak could be impacted by factors like internet penetration, Naukri market share, Naukri pricing and job listing drives.
