Hiring Activity Records 38% Y-O-Y Growth At The Start Of The New Financial Year: Naukri JobSpeak
With India making consistent progressive strides towards economic recovery, a strong positive sentiment has been observed in the job market once again. According to the Naukri JobSpeak Apr’22 Index, hiring activity in India recorded 38% YO-Y growth and the index stood at 2863 at the beginning of the new financial year.
A steady hiring trend was observed across cities and experience bands along with some sectors registering a whopping triple-digit growth in Apr’22 vs last year.
Worst hit sectors like Travel & Hospitality and Retail bounce back; register over 100% hiring activity
Various sectors in India showed a robust recovery curve with respect to recruitment activities, owing to renewed optimism in the business environment. As per the latest Naukri JobSpeak Index, the worst hit sectors during the pandemic like Travel & Hospitality (+169%) and Retail (+112%) witnessed a triple-digital Y-O-Y growth rate. The freshers band of 0-3 years saw the highest growth of 214% in Travel & Hospitality sector in Apr’22 vs Apr’21.
Following a similar trend, the Education sector (+108%) also grew at a phenomenal pace indicating a strong demand for talent. Other sectors such as Real Estate (+89%), Insurance (+83%), and BFSI (+77%) registered a significant jump in hiring activity in comparison to the last year.
Furthermore, industries like Auto/Auto Ancillary (+37%), Telecom/ISP (+36%), and FMCG (+34%) also observed a positive hiring growth.
Metros and non-metros witness a double-digit growth w.r.t hiring demand
The job market continues to reflect promising hiring patterns across metros and non-metros. Amongst metros, Mumbai (+63%) registered the highest growth in demand for new talent across this month as compared to April 2021. Delhi (+47%), Pune (+38%), Kolkata (+38%), Chennai (+34%) and Hyderabad (+32%) also remained positive.
In non-metros, a positive hiring sentiment is observed with Coimbatore leading the race once again by showing a strong growth trajectory at +63% in April 2022 vs last year. Other cities such as Jaipur (+50%), Vadodara (+32%), Kochi (+24%), and Ahmedabad (+22%) also maintained positive Y-O-Y hiring momentum.
All experience bands continue to attract recruiters
Demand for professionals across all experience bands remained steady in April 2022, with freshers (0-3 years) witnessing the highest growth of +52% compared to a year ago. Hiring activities across 4-7 years (+37%), 8-12 years (+24%), 13-16 years (+37%), and over 16 years (+33%) also grew during the month.
Commenting on the report, Pawan Goyal, Chief Business Officer, Naukri.com said, “The new financial year has witnessed a strong sentimental uplift when it comes to hiring activity across all parts of the country. The worst hit sector of Travel & Hospitality continues to recover registering the highest growth in the last one year growing by 169% over last year. 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.”
