Knowing the hiring trends of companies can help you find a good job and make smart career choices. But understanding these trends can be hard.
Well, not anymore!
To make things easy for job seekers, Naukri offers a month-on-month detailed report- The Naukri JobSpeak report. This report shows how many jobs companies are trying to fill each month based on recruiter actions.
The report offers insights based on industries, cities, experience levels, etc. Let us take a look at the Naukri JobSpeak report for July 2023.
Overview of the Hiring Trends
Oil and Gas, Real Estate, and AI-related hiring continue to shine in July 2023: Naukri Jobspeak
Naukri JobSpeak Index stood at 2573 for July 2023, down 8% compared to the previous month, and down 19% compared to July 2022.
Even in this cautious market, sectors such as Oil & Gas and Real Estate continue to hire aggressively.
New job openings in AI-related fields stayed flat.
IT industry hiring continued to remain an area of concern.
Jaipur and Vadodara continue to lead the hiring spree in Non-Metros.
Senior Leadership continued to gain traction.
Pawan Goyal, Chief Business Officer, Naukri commented,
"Positive hiring trends witnessed across domestic sectors like Oil
& Gas, Real Estate, and Hospitality, along with stable hiring for
AI-related roles, continues to showcase the adaptability and
diversification of Indian job market.”
Hiring Trends Across Industries
Braving the market turbulence, the Oil & Gas sector continued to show a robust 9% growth in hiring trends compared to July last year.
Roles such as Field Service Engineer, Quality Engineer, Procurement Manager, and Logistics Manager, were most in demand.
The Real Estate sector charted a 5% growth in hiring activity compared to July last year.
Project Manager - Construction, Interior Design, Architect, and Civil Engineers were the most sought-after profiles.
With the ongoing boom in AI, niche roles such as Full Stack AI Scientists and ML Engineers remained in demand.
Hospitality sector continued its growth trajectory with a 2% jump in new job creation in July 2023 compared to July last year.
Restaurant Managers, Hotel Managers, and Travel Desk Coordinators remained most in demand.
IT industry hiring continued to remain an area of concern, with a 46% decline in new jobs created compared to July last year.
Besides IT, sectors such as FMCG, Retail, and BPO showed a dip of 23%, 23%, and 21% respectively.
Hiring Trends Across Cities
The fast-emerging cities of Jaipur and Vadodara show a steady rise in their hiring indices within Non-Metros.
Hiring increased by 4% and 2% respectively, in these 2 cities.
Primarily driven by Oil & Gas, Pharma, and Auto Sectors.
Other Non-Metros and all Metro’s witnessed a dip in new job creation in July 2023 as compared to July 2022.
Hiring Trends Across Experience Levels
The JobSpeak Index also indicates a rising demand for senior professionals (>16 years of experience)
Primarily driven by companies seek seasoned leadership to navigate the complexities of the current business climate.
Meanwhile, entry-level and mid-level hiring remains subdued, reflecting the market's demand-supply equilibrium.
Methodology
The Naukri JobSpeak is a monthly Index representing the state of the Indian job market & hiring activity based on new job listings and job-related searches* by recruiters on the resume database on Naukri.
The JobSpeak Index captures hiring activity across multiple dimensions, including industries, cities, functional areas, and experience bands.
July 2008 is taken as the base month with an index value of 1,000, and the subsequent monthly index values are compared with the data for July 2008. The index is a highly robust and reliable indicator of white-collar hiring in India.
It is aggregated based on the hiring activity of over 100,000 clients with over 70 Lakh new job mandates yearly. The report does not cover gig employment,
hyperlocal hiring, or campus placement.
Over a long period of time, JobSpeak could be impacted by factors like internet penetration and Naukri's market share.
Index now includes job-related searches on Naukri's resume database, which helps generate statistically significant data at a more granular level.
