Understanding hiring trends can be a game changer for your job search, enabling you to make informed career decisions. However, finding reliable insights can often be a challenge.
Not anymore!
To simplify this for job seekers, Naukri presents its monthly Naukri JobSpeak report—an index that tracks month-on-month hiring trends based on recruiter activities on the platform. This report provides valuable insights into hiring patterns across industries, cities, functional areas, and experience levels.
In this article, we take a look at some of the major highlights from this month’s edition, the Naukri JobSpeak report for October 2024.
Overview of the Hiring Trends
Hiring Activity Sustains Momentum with 10% Growth in October, Fresher Hiring Shows Positive Growth After a Long Winter.
The Naukri JobSpeak Index, India's leading indicator of white-collar hiring activity, demonstrated robust growth in October 2024, reaching 2733 points and marking a significant 10% year-on-year increase.
Key sectors including Oil & Gas (+18%), Pharma/Biotech (+12%), FMCG (+8%), and IT (+6%) emerged as primary drivers of this positive trend.
AI/ML roles witnessed an exceptional 39% year-on-year and 2% month-on-month
growth.
Dr. Pawan Goyal, Chief Business Officer, Naukri said,
“We're now experiencing sustained YoY growth, with Jobspeak revealing consistently positive trends over the past few months. We're particularly thrilled to see synchronized expansion across IT and non-IT sectors. The accelerating pace of fresher hiring is a strong indicator of business confidence and presents exciting opportunities for upcoming graduates."
Hiring Trends Across Industries
IT unicorns demonstrated strong performance with a 28% increase in white-collar hiring. Foreign MNCs and Global Capability Centers (GCCs) in the IT sector, which had a relatively slower growth through the year, showed an impressive jump of 5% and 10% respectively.
The FMCG sector witnessed an 8% YoY growth, with Bangalore (+20%) and Pune (+36%) being the primary growth drivers.
Freshers hiring saw a significant uptick in sectors like Architecture/Interior Design (+57%), KPO/Research/Analytics (+39%), and Agriculture/Dairy
(+36%).
Hiring Trends Across Cities
Southern states demonstrated exceptional growth in white-collar hiring, with multiple cities showing strong year-on-year gains.
Tamil Nadu emerged as a standout performer with a 24% YoY growth. Hyderabad and Chennai were amongst the top cities that led hiring for the Research & Analytics industry, showing massive growth of 51% and 50% respectively.
Cochin led the chart for the BFSI industry, registering a 40% YoY growth.
Hiring Trends Across Experience Levels
6% increase in job opportunities for professionals with experience of 0-3 years, compared to Oct'23.
23% growth in hiring for professionals with 16+ years of experience in Oct'24 as
compared to Oct'23.
Here is a detailed analysis:
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 of Naukri.com.
The JobSpeak Index captures hiring activity across multiple dimensions, including industries, cities, functional areas, and experience bands.
July 2008 is 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 an extended period, JobSpeak could be impacted by factors like internet penetration and Naukri's market share.
About Naukri
Naukri, India's No. 1 job site and the flagship brand of Info Edge introduced the concept of e-recruitment
in India. Since its inception in 1997, Naukri.com has continuously grown while outperforming its competitors in every sphere. Info Edge was the first internet company to be listed in India. As the market leader, the brand has enjoyed the highest awareness and market share amongst job seekers and recruiters for
over two decades. It has become synonymous with the jobs category.
The platform has over 1 Crore active app installs and receives over 3 Million job applications daily. It provides hiring-related services to corporates, recruiters, placement agencies, and job seekers in India & overseas. It offers multiple products like Resume Database Access, listings, Branding, and response management tools.
With more than 70 lakh new job mandates every year and over 9 Crore jobseekers, the brand serves over 100,000 unique clients through its 63 offices in 56 cities in India.
