Hiring activity in India grew by 22% year on year in June 2022: Naukri Job Speak report

(Representative image)

Hiring activity in India showed a growth of 22 percent year on year (YoY) in June 2022, according to data published by employment website Naukri.com on July 5, based on its Job Speak index.

The data highlights a positive hiring sentiment in the job markets even as Indian startups continue to lay off young talent.

The Naukri JobSpeak Index stood at 2,878 which is only second to the peak in February of this year, when it crossed 3,000, said the company in a statement on July 5.  According to the report, since the start of this year, the country’s hiring activity has shown an upward trend.

The demand for freshers records the highest yearly growth of 30 percent in June, shows the report. The demand surged highest in Mumbai, among other metropolitan cities, with a spike of 93 percent for freshers. Among tier-two cities, Kochi stood ahead, more than doubling its fresher hiring.

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The growth in hiring for freshers was led by various sectors including Travel and Hospitality which grew 1.5 times. Retail, Insurance, and Accounting Finance almost doubled while  Banking, Financial Services, and Insurance (BFSI) and Education grew by 88 percent, and 70 percent, respectively.

Hiring sentiment grew for other experience brackets as well, with job-seekers in the experience bracket of four to seven years increasing by 19 percent, and those with eight to 12 years moved up by 17 percent.

Candidates with an experience level of 13 to 16 years experienced an increase in hiring of about 21 percent, and hiring of those with over 16 years of experience grew by 17 percent in June of 2022 as compared to the same time last year.

While hiring in travel and hospitality grew by 125 percent YoY, retail and BFSI also ramped up offers by 75 percent and 58 percent respectively. In addition, hiring activity boomed in industries such as insurance with an uptick of over 48 percent, real estate by over 46 percent, and education by over 47 percent.

Further, auto, oil, and gas ramped up hiring with a growth of about 36 to 37 percent. However, hiring in Telecom and Pharma or Biotech remained flat.

Comparing hiring growth in metro cities, Mumbai performed the best with an increase of 43 percent, with Delhi/ NCR and Kolkata both standing second, clocking a growth of about 29 percent.

Following the top three were Chennai and Bangalore with an uptrend in the hiring of 21 percent and 317 percent, respectively. Pune and Hyderabad also increased hiring by 15 percent and 11 percent, respectively, over June last year.

Emerging cities also joined the race with Coimbatore witnessing the maximum YoY growth at 60 percent in June 2022, followed by Kochi and Jaipur at 51 percent and 19 percent, respectively. The centres that remained flat are Ahmedabad and Chandigarh, according to the 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.

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.

The report, however, does not cover gig employment, hyper-local hiring, or campus placement. The company claims that over 76,000 clients use Naukri.com as the data it presents is reliable.