Hiring Activity in India Grows by 26% Annually in Nov’21: Naukri JobSpeak

According to the Naukri JobSpeak index, hiring activities witnessed a surge of 26% YoY, driven by a growth in retail sector, festive enthusiasm, and the opening of educational institutes. The index was at 2173 level in November 2021 as against 1727 in November 2020. However, a marginal drop from 2523 level recorded this year in October could be seen.

Hiring activities in the retail sector grew at 47% YoY in November 2021. Hospitality and travel sector (+58%) were also beneficiaries of this amazing festive season. Furthermore, the education sector (+54%) saw an uptrend due to reopening of schools across the country. Hiring activities have seen a growth in major employment creation sectors like IT-software (+50%) and banking and financial services (+30%), compared to the same period last year. The index reported a slow growth in medical and healthcare sector (+3%) and FMCG sector (+6%). However, telecom and Internet service sector outperformed (+91%).

Metro cities recorded a 39% YoY growth in hiring activities due to a continuous surge in IT software and banking and financial institutions, while non-metro cities grew merely by 16%. Hiring activities in Hyderabad and Pune grew by 47% each, while Bengaluru recorded a growth of 49% in November 2021. The hiring activities remained positive in cities like Mumbai (+36%), Delhi NCR (+34%) and Chennai (+35%). However, Kolkata (+23%) witnessed a slower growth comparatively.

Demand for senior professionals with an experience of 8-12 years (+37%) remained robust, while positive demand could be observed for working professionals with an experience of 4-7 years (+30%), 0-3 years (+27%), 13-16 years (+26%) and more than 16 years (+20%) brackets.

Mr. Pawan Goyal, Chief Business Officer, Naukri.com, expressed his views by highlighting the recovery of travel and hospitality sector and the impact of festive season on this speedy recovery.