Oil & Gas, Real Estate & AI-Related Hiring Continue To Shine In July 2023
The Naukri JobSpeak report shows how many jobs companies are trying to fill each month based on recruiter actions. The report offers insights based on industries, cities, experience levels, etc.
Overview of the Hiring Trends
Naukri JobSpeak Index stood at 2573 for July 2023, down 8 per cent compared to the previous month, and down 19 per cent compared to July 2022.
Even in this cautious market, sectors such as oil & gas and real estate continue to hire aggressively. New job openings in AI-related fields stayed flat. IT industry hiring continued to remain an area of concern. Jaipur and Vadodara continue to lead the hiring spree in non-metros. Senior leadership continued to gain traction.
Pawan Goyal, chief business officer, Naukri.com commented, "Positive hiring trends witnessed across domestic sectors like oil & gas, real estate and hospitality, along with stable hiring for AI-related roles, continues to showcase the adaptability and diversification of Indian job market."
Hiring Trends Across Industries
Braving the market turbulence, the Oil & Gas sector continued to show a robust 9 per cent growth in hiring trends compared to July last year.
Roles such as field service engineer, quality engineer, procurement manager, and logistics manager, were most in demand. The real estate sector charted a 5 per cent growth in hiring activity compared to July last year. Project manager - construction, interior designer, architect, and civil engineers were the most sought-after profiles.
With the ongoing boom in AI, niche roles such as full stack AI scientists and ML engineers remained in demand. Hospitality sector continued its growth trajectory with a 2 per cent jump in new job creation in July 2023 compared to July last year.
Restaurant managers, hotel managers and travel desk coordinators remained most in demand. IT industry hiring continued to remain an area of concern, with a 46 per cent decline in new jobs created compared to July last year. Besides IT, sectors such as FMCG, Retail, and BPO showed a dip of 23, 23, and 21 per cent respectively.
Hiring Trends Across Cities
The fast-emerging cities of Jaipur and Vadodara show a steady rise in their hiring indices within non-metros. Hiring increased by 4 and 2 per cent respectively, in these 2 cities.
Primarily driven by oil & gas, pharma, and auto sectors. Other non-metros and all metro’s witnessed a dip in new job creation in July 2023 as compared to July 2022.
Hiring Trends Across Experience Levels
The JobSpeak Index also indicates a rising demand for senior professionals (>16 years of experience)
Primarily driven by companies seek seasoned leadership to navigate the complexities of the current business climate. Meanwhile, entry-level and mid-level hiring remains subdued, reflecting the market's demand-supply equilibrium.
The report represents the state of the Indian job market and hiring activity based on new job listings and job-related searches by recruiters on the resume database.
