The Indian Job market has witnessed several ups and downs in the last couple of years. Trying to decide on a job opportunity, a career change or which city is the best to work in has been a challenging task, leaving jobseekers frustrated.
To make job search easy, Naukri brings to you its monthly edition of the Naukri JobSpeak report. With the JobSpeak report, you can find your dream job without any hassle.
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 May 2022.
Overview of the Hiring Trends
Hiring activity stays buoyant in May’22, sustains monthly run rate while beating last year by 40%: Naukri JobSpeak
India showed promising signs of economic recovery in May’22 with hiring across key sectors witnessing an upward Y-O-Y trajectory and a stable sequential trend.
Hiring grows across all key cities, with Delhi leading the charts.
Employers’ intent to hire Freshers up by 61% YOY.
Observing these trends, Pawan Goyal, Chief Business Officer, Naukri commented,
The recruitment landscape continues to stay resilient and is sustaining the momentum 2022 ushered in. The job market has shown stable sequential trends that are substantially ahead of last year's baselines.
The secular nature of trends; cutting across metros as well as non-metros, experienced professionals as well as freshers are again a good indicator of this strong hiring sentiment.
Hiring Trends Across Industries
With the summer holiday season causing a spike in travel, strong growth of +352% in hiring activity was observed in the travel and hospitality sector over a COVID hit on May’21.
When compared with April, the sector has maintained its monthly run rate showing signs of stability.
Hiring Trends Across Cities
The demand for talent in metros and non-metros remained steady as all cities indicated a double-digit Y-O-Y growth in May’22.
Amongst metros, Delhi (63%) registered the highest Y-O-Y growth closely followed by Mumbai (+61%). Other metros, i.e.,Kolkata (+59%), Chennai (+35%), Pune (+27%), and Hyderabad (+23%) showed positive Y-O-Y growth.
An optimistic hiring sentiment was observed across all tier-II cities with Jaipur leading the Y-O-Y growth in demand for talent at (+76%). Other emerging cities such as Coimbatore (+64%), Vadodara (+49%), Cochin (+35%), Ahmedabad (+26%), and Chandigarh (+25%) showed double digit Y-O-Y growth.
When compared with last month, emerging cities also maintained consistency in hiring activity in May’22.
Hiring Trends Across Experience Levels
Across all experience levels, the demand for entry-level talent (0-3 years) exhibited the steepest rise of +61% in May’22 vs May’21.
A positive hiring sentiment was observed for other experience brackets such as 4-7 years (+37%), over 16 years (+27%), 13-16 years (+26%) and 8-12 years (+22%).
At M-O-M level, the demand for all experience bands remained stable in May’22 vs Apr’22.
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
India showed promising signs of economic recovery in May’22 with hiring across key sectors witnessing an upward Y-O-Y trajectory and a stable sequential trend. As per the latest Naukri JobSpeak May’22 Index, the surge in hiring activity stays put as it records +40% Y-O-Y growth in May’22. Exiting May, Naukri JobSpeak Index stood at 2863.
As the holiday season kicks in, the Travel and Hospitality sector hit top gear witnessing a 357% growth in hiring sentiment compared to May’21; breaking the shackles of pandemic waves last year.
Key sectors showed sustained growth in employment activities, while hiring grows across all key cities, with Delhi leading the charts. The interesting thing to observe is that employers’ intent to hire Freshers went up by 61% YOY.
All the best!
