Landing the right opportunity in this dynamic Indian job market is crucial for all job seekers. As you look for new opportunities, take the first step by understanding the current hiring trends.
To assist you in making smart career choices, Naukri brings to you its monthly edition of the Naukri JobSpeak report, an index that measures the month-on-month hiring trends based on recruiter activities on Naukri and offers insights into the recruiter activities 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, the Naukri JobSpeak report for June 2022.
Overview of the Hiring Trends
The Indian job market continues to show positive hiring sentiments as the Naukri JobSpeak Index stood at 2878.
The demand in metros and non-metros continued to show an optimistic upward trend. Mumbai recorded maximum demand for Freshers in metros as recruiters’ intent to hire freshers stay high.
Hiring activity maintains its momentum in key sectors.
Pawan Goyal, Chief Business Officer, Naukri 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.
Hiring Trends Across Industries
Amongst industries, travel and hospitality continues to show a maximum surge in hiring activity in June’22 v/s June’21 at +125%.
Following a similar trend, Retail (+75%) and BFSI (+58%) showed growth in hiring when compared with June’21, while reflecting a stable MOM trend.
Other key sectors that saw an uptick in YOY trends are Insurance (+48%), Education (+47%), Real Estate (+46%), Auto (+37%), and Oil & Gas (+36%) while Telecom and Pharma/Biotech remained flat.
Hiring Trends Across Cities
Amongst metros, Mumbai continues to lead the race in three consecutive months at +43% y-o-y growth.
Other metros such as Kolkata (+29%), Delhi (+29%), Chennai (+21%), Bangalore (+17%), Pune (+15%), and Hyderabad (+11%) continue to show positive growth in June’22 vs last year.
Amongst the non-metros, Coimbatore showed the maximum y-o-y growth at +60% in June’22.
Other tier-II cities also witnessed a surge as Kochi (+51%) and Jaipur (+19%). The only centers that remained flat are Ahmedabad and Chandigarh.
Hiring Trends Across Experience Levels
Freshers rejoice as the demand for entry-level talent continues to record the highest yearly growth (+30%) in June’22.
Additionally, the growing hiring sentiment was observed for other experience brackets such as 4–7 years (+19%), 8–12 years (+17%), 13–16 years (+21%), and over 16 years (+17%) in June’22 v/s June’21.
Hiring for entry-level professionals surged specifically in Mumbai (+93%) amongst metros apart from Kochi (+105%) amongst tier-2 cities. Interestingly, this growth in hiring for Freshers was led by various sectors including Travel & Hospitality (+158%), Retail (+109%), Insurance (+101%), Accounting Finance (+95%), BFSI (+88%), and Education (+70%).
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 Indian job market continues to show positive hiring sentiments as the Naukri JobSpeak Index stood at 2878 which is only second to the peak in February’22 when it crossed 3000.
Since the start of this year, the country’s hiring activity has shown an upward growth trajectory. The latest Naukri JobSpeak Index observed a +22% y-o-y growth in June’22 v/s June’21.
Freshers rejoice as the demand for entry-level talent continues to record the highest yearly growth (+30%) in June’22. Hiring for entry-level professionals surged specifically in Mumbai amongst metros apart from Kochi among tier-2 cities.
Interestingly, this growth in hiring for Freshers was led by various sectors including Travel & Hospitality, Retail, Insurance, Accounting Finance, BFSI, and Education.
