Hiring activity in India grew by 40% YoY in May 2022: Naukri Job Speak Report

The Naukri Job Speak is a monthly index that calculates and records hiring activity across various industries, cities, functional areas, and experience levels based on newly added job listings on Naukri.com every month.

Hiring activity in India showed a growth of 40 percent year on year (YoY) in May 2022, according to data published by employment website, Naukri.com as per its Job Speak index on June 3.

According to the data, hiring for white-collar jobs in May 2022 recovered in comparison to May 2021, with the highest growth in industries like Travel and Hospitality, Retail, and Real Estate, among others.

While hiring in travel and hospitality grew by 357 percent YoY, retail and real estate also ramped up offers by 175 percent and 141 percent respectively. In addition, hiring activity boomed in industries such as insurance with an uptick of over 126 percent, in Banking, Financial Services, and Insurance (BFSI) sector by over 104 percent, and in education and teaching by over 86 percent.

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Further, auto and auto ancillary and oil and gas both ramped up hiring with a growth of 69 percent each. While hiring in FMCG grew by 51 percent. IT software and software services saw 7 percent growth in May 2022, the lowest growth compared to the rest.

The Naukri Job Speak is a monthly index that calculates and records hiring activity across various industries, cities, functional areas, and experience levels based on newly added job listings on Naukri.com every month.

July 2008 has been considered as the base with an index value of 1,000 and the subsequent monthly indices are compared to data from July 2008.

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Comparing hiring growth in Metro cities, Delhi/ NCR performed the best with an increase of 63 percent, with Mumbai as the close second which clocked a growth of about 61 percent.

Following the top two were Kolkata and Chennai with an uptrend in the hiring of 59 percent and 35 percent, respectively. Pune, Hyderabad, and Bangalore also increased hiring by 27 percent, 23 percent and 14 percent, respectively, over May last year.

Emerging cities also joined the race with an increase in hiring of 76 percent in Jaipur, followed by Coimbatore and Vadodara at 64 percent and 49 percent, respectively. In addition, hiring in Kochi grew by 35 percent, in Ahmedabad by 26 percent, and in Chandigarh by 25 percent.

Among the hired employees, those within the experience bracket of 0-3 years saw a major uptrend of over 61 percent, indicating that companies are focusing on fresher hiring as attrition rises and lateral hiring of talent becomes expensive.

The report, however, does not cover gig employment, hyper-local hiring, or campus placement.

In addition, those within the bracket of 4-7 years and 8-12 years experienced increased hiring of about 37 percent and 22 percent respectively. Similar data appeared for hiring in the experience bracket of 13-16 years and above 16 years with a growth of 26 percent and 27 percent, respectively.

The company claims that over 76,000 clients use Naukri.com as the data it presents is reliable.