Emerging cities in India drove the country’s job market as companies across sectors increasingly extended their talent search beyond the metro locations, according to the latest jobs report from Naukri JobSpeak. India’s hiring activity in January remained stable with a 2% growth in January. The Indian job market continues to show resilience and stability. The 2% growth is noteworthy as it has been recorded despite a 25% decline in IT sector hiring.
The dip in IT sector hiring has been more or less compensated by a hiring spree in the non-IT sectors such as insurance, oil, hospitality and banking. Non-metro cities continue to drive hiring activity in the New Year. Amongst non-metros, Ahmedabad leads the way, recording a 40% growth in new job creation, mainly driven by insurance and healthcare sectors. Baroda follows with a 37% growth, dominated by banking and construction sectors.
Jaipur recorded a 14% growth, mainly led by BPO and banking sectors. Amongst metro cities, Mumbai and Delhi recorded positive hiring trends, registering 14% and 10% growth, respectively, in new job creation. The insurance sector has been a key sector witnessing a hiring spree across Delhi and Mumbai.
On the contrary, metro cities like Bangalore, Hyderabad, Pune, and Chennai, which are heavily dependent on the IT sector for driving job creation, have shown a decline of 20%, 12%, 11%, and 6% respectively in comparison to last year. Non-IT sectors that are most significantly driving job growth in each of these metros are insurance, banking, auto and oil.