Hiring Activity Maintains Momentum at 16% Y-O-Y Growth in March’22: Naukri JobSpeak
India, 5th April 2022: The Naukri JobSpeak Index March’22 stood at 2832 at the end of the financial year reflecting on the steady growth of hiring activity in India.
As businesses gradually inch towards the pre-pandemic normal, recruiters continue to demonstrate a positive hiring intent across key sectors, cities, and experience bands witnessed by year-on-year growth of 16% in March’22 versus last year.
Hiring activity continues to grow in all major sectors
The month of financial year closing witnessed a sequential increment in hiring activity across all key sectors. Apart from Travel & Hospitality (82%), that has seen consistent growth since the travel restrictions have been relaxed, other key sectors that observed an uptick in hiring trends compared with last year are Education (+44%), Real Estate (+30%), Retail (+28%), BFSI (+22%), IT-Software (+14%), and FMCG (+5%).
Oil & Gas (-6%) recorded a slight decline in Mar’22 vs last year, while Healthcare remained flat.
Metros and Non-Metros sustain growth in hiring
Metro cities saw positive Y-O-Y growth in hiring activity in March’22 with Kolkata (+42%) leading the charts followed by Hyderabad (+27%), Mumbai (+25%), Chennai (+24%), and Pune (+23%).
However, Delhi saw a decline(-15%) in Mar’22 vs last year.
Amongst Tier-2 cities, Coimbatore (+29%) registered the highest growth in hiring activity, followed by Kochi (+12%). While there was a dip in Chandigarh (-9%), Vadodara and Jaipur remained flat in March’22 when compared with March’21.
Demand for professionals across all experience bands remains steady
Across all experience bands, the demand remained steady in March’22 with >16 years’ experience bracket witnessing the highest growth (+23%) vs last year.
Hiring activities across 0-3 years (+21%), 13-16 years (21%), 4-7 years (14%) and 8-12 years (+11%) also grew in March’22.
Commenting on the report, Pawan Goyal, Chief Business Officer, Naukri.com said “India is on the road to economic recovery with all key industries and cities showing signs of continued recovery. It is good to see that sectors that were worst hit by the pandemic such as Travel & Hospitality have now revived. We believe that with a growth trajectory like this, the upward trend in talent demand will continue its dream run in the coming months.”
Methodology
The Naukri JobSpeak is a monthly Index that calculates and records hiring activity based on the job listings on Naukri.com website month on month and year on year. The objective of Naukri JobSpeak is to measure the hiring activity in various industries, cities, and experience levels. The data is compiled from the website wherein jobs posted by clients on Naukri.com are considered. July 2008 is taken as the base with an index value of 1,000 and the subsequent monthly index is compared with the data for July 2008. The report shows hiring trends across industry sectors, geography, and experience level. More than 76,000 clients use Naukri.com, leading to the high reliability of data. The report does not cover gig employment, hyperlocal hiring or campus placement. Data on functional area hiring has been retired due to changes in the nomenclature. Over a long period of time, Naukri JobSpeak could be impacted by factors like internet penetration, Naukri market share, Naukri pricing and job listing drives.
