India Inc Hiring Jumps 38%; Travel and Hospitality Shows Strongest Job Growth; Know the details

According to a report by Naukri.com, hiring by domestic companies in April jumped 38% year-over-year (year-on-year) and was positive for both metro and non-metro cities. Recruitment in the travel and hospitality sector, which was among the hardest hit sectors during the pandemic, posted triple-digit growth from a year earlier.

“According to the Naukri JobSpeak Index for April 2022, hiring activity in India recorded 38% year-on-year growth and the index stood at 2,863 at the start of the new fiscal year,” it said on Friday. the job portal report.

According to the report, travel and hospitality saw 169% year-on-year growth in hiring, while retail saw a 112% jump. The 0 to 3 years of the first year saw the highest growth of 214% in the travel and hospitality sector in April 2022.

The education sector (108%) has also grown at a “phenomenal rate”, indicating strong demand for talent, according to the report, adding that other sectors such as real estate (89%), insurance (83%) and BFSI (77 percent) saw a “significant jump” in hiring activity from a year ago.

With a growth of 63%, Mumbai recorded the highest growth in demand for new talent. In non-metro areas, positive hiring sentiment is seen with Coimbatore leading once again posting a strong growth trajectory at 63% in April 2022 compared to last year.

In another recent report by the Monster Jobs Index, hiring activity grew 6% year-on-year in March this year, supported by a rebound in economic activity and driven by sectors such as banking and telecommunications. However, there was a marginal 2.4% drop in hiring activity from February, due to appraisal season.

Sekhar Garisa, CEO of Monster.com, a Quess company, said, “Two years into the pandemic, it is encouraging to see that the Indian economy has weathered setbacks and challenges with strong hiring momentum. exceeding pre-COVID levels by 6%. this year versus 2020.”

He said all metros recorded double-digit growth on an annual basis. The Monster Jobs Index is a comprehensive monthly analysis of online job posting activity conducted by Monster India.

Hiring demand in March was driven by Banking/Financial Services and Insurance, which showed remarkable improvement (up 37%), followed by Telecom/ISP (up 17%) and Manufacturing and manufacturing (up 16%). .

However, some sectors saw a year-over-year decline. These include engineering, cement, construction and steel (down 20%), registering the steepest deceleration among the sectors.

Mumbai (up 21%) topped all cities monitored for the first time on a yearly basis, followed by Coimbatore (up 20%), Chennai and Hyderabad (up 16% each), according to the report.

Online recruitment activity in Bengaluru (up 15%) recorded a positive trend, but was lower than previous months, he noted.

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