Indian job market sees record 22% Y-o-Y growth in June’22

Sectors leading hiring for freshers include travel and hospitality (+158 per cent), retail (+109 per cent), insurance (+101 per cent), accounting finance (+95 per cent), BFSI (+88 per cent), and education (+70 per cent).
Representative image
Representative image

NEW DELHI: Hiring activity in India has shown an upward growth trajectory with a record 22 per cent year-on-year (YoY) growth in June 2022 compared to last year, according to a report on Tuesday.

The report Naukri JobSpeak Index showed that demand for entry-level talent continues to record the highest yearly growth (+30 per cent) in June’22. Demand for freshers surged specifically in Mumbai (+93 per cent) amongst metros apart from Kochi (+105 per cent) amongst tier-II cities.

Sectors leading hiring for freshers include travel and hospitality (+158 per cent), retail (+109 per cent), insurance (+101 per cent), accounting finance (+95 per cent), BFSI (+88 per cent), and education (+70 per cent).

Growth in hiring sentiment was also observed for other experience brackets such as 4-7 years (+19 per cent), 8-12 years (+17 per cent), 13-16 years (+21 per cent), and over 16 years (+17 per cent) in June’22 v/s June’21.

Amongst industries, travel and hospitality continued to show maximum surge in hiring activity in June’22 v/s June’21 at +125 per cent. This was followed by retail (+75 per cent) and BFSI (+58 per cent).

Other key sectors that saw an uptick in YOY trends are insurance (+48 per cent), education (+47 per cent), real estate (+46 per cent), auto (+37 per cent), and oil and gas (+36 per cent) while telecom and pharma/biotech remained flat.

“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,” said Pawan Goyal, Chief Business Officer, Naukri.com, in a statement.

Further, Mumbai continues to lead the race in three consecutive months at +43 per cent y-o-y growth, followed by Kolkata (+29 per cent), Delhi (+29 per cent), Chennai (+21 per cent), Bangalore (+17 per cent), Pune (+15 per cent), and Hyderabad (+11 per cent).

In non-metros, Coimbatore showed the maximum y-o-y growth at +60 per cent in June’22, followed by Kochi (+51 per cent) and Jaipur (+19 per cent). The only centres that remained flat are Ahmedabad and Chandigarh.

Visit news.dtnext.in to explore our interactive epaper!

Download the DT Next app for more exciting features!

Click here for iOS

Click here for Android

Related Stories

No stories found.
DT next
www.dtnext.in