The Indian job market has picked up pace ahead of the festive season as companies ramp up their operations to meet the growing demands. The Naukri.com JobSpeak report showed a 13 per cent on-year growth and a 10 per cent sequential growth in September 2022. The real estate sector has topped the charts in the industry. However, Mumbai saw the highest growth across metro cities. The hiring sentiment remains positive across the experience bands, with leadership roles seeing the maximum jump, the report noted.
Insurance leads industry charts, IT hiring slows down
The insurance sector led the charts, recording a sequential growth of 90 per cent, and growing by 71 per cent so far in the year 2022. The real estate sector also witnessed a significant jump in hiring, growing 66 per cent on-year. Multiple sectors continue to do well, with the BFSI sector growing by 64 per cent, travel & hospitality by 48 per cent, oil & gas by 43 per cent, auto by 23 per cent, FMCG by 20 per cent, and retail sector by 17 per cent.
On the other hand, the IT sector recorded a de-growth of 6 per cent on-year in September 2022 as compared to the previous year. Hiring has gone up by 8 per cent, sequentially, showing signs of recovery. The medical or healthcare sector has also recorded a de-growth of 6 per cent this month.
Mumbai tops charts among metro cities, Bengaluru sees slump
Amongst metros, Mumbai topped the hiring charts as it witnessed a 27 per cent on-year growth. Other metro cities saw positive annual growth, but Bengaluru recorded a de-growth of 8 per cent on-year. In terms of monthly hiring charts, Delhi led the charts after registering a 14 per cent growth, while Hyderabad and Kolkata followed close with a growth of 11 per cent. Hiring in Pune grew by 9 per cent, in Chennai by 8 per cent, and in Bengaluru by 7 per cent.
Amongst emerging cities, Kochi remained flat. Coimbatore witnessed the highest uptick in hiring activity, recording a 25 per cent on-year growth. Other cities also saw positive hiring growth. It grew by 23 per cent in Ahmedabad and 17 per cent in Jaipur. It fell by 11 per cent in Chandigarh and 4 per cent in Vadodara.
Steady hiring across all experienced bands; Leadership sees maximum jump
The demand for professionals across all experienced bands remained steady in September 2022 as compared to last year. Professionals with more than 16 years of work experience saw the highest uptick, growing by 15 per cent followed by 13-16 years of work experience band, recording a 10 per cent growth. Professionals with upto 3 years of experience exhibited positive growth of 9 per cent, the 4-7 years band grew by 8 per cent, and professionals with 8-12 years of experience a 10 per cent uptick in hiring.