Job Market in India Clocks 57% Year-on-Year Growth: Report
New Delhi(Get Rozgar): The Job market in India maintained its record-breaking run for the third consecutive month in a row, clocking 57 percent year-on-year growth in September, as per the latest report by Naukri JobSpeak.
The index hit an all-time high in September 2019 exceeding pre-COVID levels at 2,753 jobs posted in India by 21 percent.
The Naukri JobSpeak is a monthly Index that computes and records hiring activity on the basis of the job listings on the Naukri.com website month on month.
Motive of JobSpeak
The motive of Naukri JobSpeak is to assess the hiring activity in several industries, cities, and experience levels.
Most sectors exhibited considerable annual growth year-on-year led by IT (138 percent) and hospitality (+82 percent).
The report states, “The recent wave of digital transformation among Indian organizations continues to generate demand for tech professionals. YoY hiring in the IT-software/software services sector has grown by 138 percent in September 2021.
It said sectors like hospitality (82 percent) and retail (+70 percent) which were most impacted by the pandemic, also witnessed significant YoY growth in September with several hotels and physical store outlets across the country gradually reopening”.
Hiring in the education (53 percent), banking/financial services (43 percent), and telecom/ISP (+37 percent) sectors have grown as compared to September 2020.
Metros reported 88 percent annual growth in September, outperforming Tier 2 cities that grew by 30 percent.
“The continuous positive growth of the IT-software/software services sector has enabled major IT hubs to outperform other cities in the annual growth charts, it said.
Bengaluru (133 percent), Hyderabad (110 percent), Pune (95 percent), and Chennai (85 percent) recorded the highest YoY growth in September.
Hiring activity was also positive in Delhi/NCR (72 percent) while Mumbai and Kolkata both recorded 60 percent growth. Among the tier-II cities, Ahmedabad (82 percent) and Coimbatore (46 percent) recorded the highest annual growth followed by Vadodara (33 percent) and Kochi (19 percent),” it said.
Job Market in India
Across all experience bands, hiring increased largely in September as compared to the previous year due to the all-around positive performance of the Job Market in India as it recovers from the reversals caused by the COVID pandemic.
Pawan Goyal, Chief Business Officer, Naukri.com said, ?India is witnessing a never seen before activity in hiring. Fuelled by the demand for IT professionals, it truly is heartening to see the industries recover at the onset of the festive season.
The market witnessed 57 percent YoY growth indicating a strong revival of the market post-pandemic. The majority of the sectors, cities, and experience bands have recorded positive growth in both YoY and MoM charts in the month of September.”
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