Hiring by companies in India in June showed a strong growth with a jump of 22 per cent year-on-year, according to a report by Naukri.com. The recruitment in the travel & hospitality sector showed growth in triple-digits as compared to the previous year.
Demand for entry-level talent continued to record the highest yearly growth, 30 per cent, in June. Among metro cities, demand for freshers surged especially in Mumbai (+93 per cent). Kochi registered a high growth of 105 per cent among tier-II cities. The growing hiring sentiment was observed for other experience brackets such as 4-7 years (+19 per cent), 8-12 years (+17 per cent), 13-16 years (+21 per cent), and over 16 years (+17 per cent), according to the report.
The growth in freshers’ hiring was led by sectors such as travel & hospitality (+158 per cent), retail (+109 per cent), insurance (+101 per cent), accounting finance (+95 per cent), BFSI (+88 per cent), and education (+70 per cent). The Naukri JobSpeak Index stood at 2,878, which is only second to the peak in February when it crossed 3,000.
Industry-wise, travel and hospitality continued to show a maximum surge in hiring activity in June, up 125 per cent y-o-y, followed by retail (+75 per cent) and BFSI (+58 per cent) showed growth in hiring when compared with June last year. Insurance witnessed a hiring growth of 48 per cent, followed by education (+47 per cent), real estate (+46 per cent), auto (+37 per cent), and oil & gas (+36 per cent). However, the hiring activity in telecom and pharma remained flat.
Naukri.com Chief Business Officer Pawan Goyal said, “With the Indian economy growing at a steady pace, the job market is also seeing a consistent uptick in hiring activity across key sectors and cities. This upward trend is a positive indication as a significant proportion of new job opportunities are being created for professionals across sectors and experience bands.”
Demand in both metros and non-metros continues to show an optimistic upward trend. Among metros, Mumbai continues to lead the race in three consecutive months at +43 per cent y-o-y growth. Other metros such as Kolkata (+29 per cent), Delhi (+29 per cent), Chennai (+21 per cent), Bengaluru (+17 per cent), Pune (+15 per cent), and Hyderabad (+11 per cent) continue to show positive growth in June versus last year.
In non-metros, Coimbatore showed the maximum y-o-y growth at +60 per cent in June 2022, followed by Kochi (+51 per cent) and Jaipur (+19 per cent). The only centers that remained flat are Ahmedabad and Chandigarh.
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 and year on year. The data is compiled from the website wherein jobs posted by clients on Naukri.com are considered.