Understanding hiring trends in India in this rapidly changing job market can be a challenging task. The ultimate goal is to find the dream job and make career choices that optimize professional growth. But what is a good place to start?
To answer this crucial question, Naukri brings to you its monthly edition of the Naukri JobSpeak report.
The JobSpeak report is an index that gauges the month-on-month hiring trends based on recruiter activities on Naukri and offers insights into the hiring trends across various industries, cities, and experience levels.
In this blog, we will take a look at some of the major highlights from this month’s edition of the JobSpeak report- the Naukri JobSpeak report for April 2022.
Overview of the Hiring Trends
Hiring activity in India recorded +38% YO-Y growth as the Naukri JobSpeak index stood at 2863 at the beginning of the new financial year.
A steady hiring trend was observed across cities and experience bands along with some sectors registering a whopping triple-digit growth in Apr’22 vs last year.
Pawan Goyal, Chief Business Officer, Naukri commented,
“The new financial year has witnessed a strong sentimental uplift when it comes to hiring activity across all parts of the country.
The worst-hit sector of Travel & Hospitality continues to recover registering the highest growth in the last year growing by 169% over last year.
These are good signs indicating that the nation is on the path to economic recovery and we are hopeful that in the coming months hiring activity will continue its strong momentum”
Hiring Trends Across Industries
As per the latest Naukri JobSpeak Index, the worst-hit sectors during the pandemic like Travel & Hospitality (+169%) and Retail (+112%) witnessed a triple-digital Y-O-Y growth rate.
Following a similar trend, the Education sector (+108%) also grew at a phenomenal pace indicating a strong demand for talent.
Other sectors such as Real Estate (+89%), Insurance (+83%), and BFSI (+77%) registered a significant jump in hiring activity in comparison to the last year.
Hiring Trends Across Cities
The job market continues to reflect promising hiring patterns across metros and non-metros.
Amongst metros, Mumbai (+63%) registered the highest growth in demand for new talent across this month as compared to April 2021. Delhi (+47%), Pune (+38%), Kolkata (+38%), Chennai (+34%) and Hyderabad (+32%) also remained positive.
In non-metros, a positive hiring sentiment is observed with Coimbatore leading the race once again by showing a strong growth trajectory at +63% in April 2022 vs last year.
Other cities such as Jaipur (+50%), Vadodara (+32%), Kochi (+24%), and Ahmedabad (+22%) also maintained positive Y-O-Y hiring momentum.
Hiring Trends Across Experience Levels
Demand for professionals across all experience bands remained steady in April 2022, with freshers (0-3 years) witnessing the highest growth of +52% compared to a year ago.
Hiring activities across 4-7 years (+37%), 8-12 years (+24%), 13-16 years (+37%), and over 16 years (+33%) also grew during the month.
Methodology
The Naukri JobSpeak is a monthly index that calculates and records hiring activity based on the job listings on the Naukri website month-on-month.
The objective of Naukri JobSpeak is to measure the hiring activities in various industries, cities, functional areas, and experience levels. The data is compiled from the website wherein jobs posted by clients on Naukri are considered.
Thus, the JobSpeak index includes jobs that might be for replacement hiring. July 2008 is taken to be the base with an index value of 1,000, and the subsequent monthly index is compared with the data for July 2008.
The jobs analyzed for the monthly index are qualified based on white-collar, urban, organized corporate sector jobs focusing on service industries. The report shows hiring trends across industry sectors, geography, experience level, and functional areas.
More than 76,000 clients use Naukri, leading to the high reliability of data. The report does not cover gig employment, hyperlocal hiring, or campus placement.
Over a long period, the Naukri JobSpeak was impacted by the increase in the Naukri traffic share, internet penetration, Naukri pricing strategy, and job listing drives.
Conclusion
The hiring intent across various sectors witnessed a triple-digit growth with Travel & Hospitality leading the chart at 169% growth in Apr’22 vs last year.
With India making consistent progressive strides towards economic recovery, a strong positive sentiment has been observed in the job market once again.
According to the Naukri JobSpeak Apr’22 Index, hiring activity in India recorded 38% YO-Y growth and the index stood at 2863 at the beginning of the new financial year.
A steady hiring trend was observed across cities and experience bands along with some sectors registering a whopping triple-digit growth in Apr’22 vs last year.
In conclusion, the worst-hit sectors like Travel & Hospitality and Retail bounce back; register over 100% hiring activity. Metros and non-metros witness a double-digit growth w.r.t hiring demand. All experience bands continue to attract recruiters.
