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Overview of Hiring Activity in India
In March, India saw a significant 16% year-on-year growth in hiring activity, driven by the easing of travel restrictions and increased business momentum. This growth was reported by Naukri.com, an online job portal, highlighting the overall economic recovery in the country.
Sector-Specific Hiring Trends
The travel and hospitality sector experienced the highest growth, with an 82% increase, marking a strong rebound since the relaxation of travel restrictions. Other key sectors also showed positive hiring trends:
- Education: Up by 44%
- Real Estate: Increased by 30%
- Retail: Grew by 28%
- BFSI (Banking, Financial Services, and Insurance): Rose by 22%
- IT-Software: Up by 14%
- FMCG (Fast-Moving Consumer Goods): Increased by 5%
In contrast, the oil and gas sector saw a slight decline of 6% compared to the previous year.
Naukri JobSpeak Index Insights
The Naukri JobSpeak Index, which measures hiring activity based on job listings on Naukri.com, reached 2832 at the end of the financial year, indicating steady growth in India’s hiring landscape. The index reflects data from over 76,000 clients and provides a comprehensive view of the employment market.
Commentary from Industry Experts
Pawan Goyal, Chief Business Officer at Naukri.com, commented on the positive trends, noting that sectors hardest hit by the pandemic, like travel and hospitality, are now showing strong signs of recovery. He expressed optimism about the continued demand for talent in the coming months, supported by the overall economic recovery.
Experience-Based Hiring Trends
Demand for professionals across various experience levels remained strong in March. The highest growth was observed in the segment of professionals with 16 years or more experience, which saw a 23% increase. Other experience bands also experienced growth:
- 0-3 years: Increased by 21%
- 13-16 years: Up by 21%
- 4-7 years: Grew by 14%
- 8-12 years: Increased by 11%
These trends indicate a broad-based recovery and a diverse demand for talent across experience levels in India’s job market.