With India on track for economic recovery, strong positive sentiment has been observed in the job market. Hiring activity in the country recorded 38 per cent year-on-year growth at the start of the new financial year, according to the Naukri JobSpeak April 2022 Index.
The monthly Index calculates and records hiring activity based on job listings on the Naukri.com website month-on-month and year-on-year.
The index stood at 2,863 at the beginning of the new financial year. According to the report, hiring intent across various sectors witnessed triple-digit growth year-on-year in April 2022 with Travel & Hospitality leading with 169 per cent YoY growth in April 2022.
“Various sectors in India showed a robust recovery curve with respect to recruitment activities, owing to renewed optimism in the business environment,” it said.
The worst hit sectors during the pandemic like Travel & Hospitality (+169 per cent) and Retail (+112 per cent) witnessed triple-digital YoY growth rate.
The freshers category with 0-3 years of experience saw the highest growth of 214 per cent in the Travel & Hospitality sector in April 2022 versus April 2021.
Following a similar trend, the education sector (+108 per cent) also grew at a significant rate indicating strong demand for talent. Other sectors such as Real Estate (+89 per cent), Insurance (+83 per cent), and BFSI (+77 per cent) registered a significant jump in hiring activity in comparison to the last year.
Further, industries like Auto/Auto Ancillary (+37 per cent), Telecom/ISP (+36 per cent), and FMCG (+34 per cent) also observed positive hiring growth.
Hiring demand high in metros as well as non-metros
The job market witnessed a positive hiring trend across metros and non-metros. Amongst metros, Mumbai (+63 per cent) registered the highest growth in demand for new talent across the month as compared to April 2021. Delhi (+47 per cent), Pune (+38 per cent), Kolkata (+38 per cent), Chennai (+34 per cent) and Hyderabad (+32 per cent) also remained positive.
Positive hiring sentiment was observed in the non-metros as well with Coimbatore leading the charts again showing a strong growth trajectory at +63 per cent in April 2022 vs last year. Other cities such as Jaipur (+50 per cent), Vadodara (+32 per cent), Kochi (+24 per cent), and Ahmedabad (+22 per cent) also maintained positive Y-O-Y hiring momentum.
Demand for professionals across all experience bands remained steady in April 2022, with freshers (0-3 years) witnessing the highest growth of +52 per cent, compared to a year ago. Hiring activity across 4-7 years (+37 per cent), 8-12 years (+24 per cent), 13-16 years (+37 per cent), and over 16 years (+33 per cent) also recorded growth during the month.
Pawan Goyal, Chief Business Officer, Naukri.com said, “The new financial year has witnessed strong sentimental uplift when it comes to hiring activity across all parts of the country. The worst-hit sector, Travel & Hospitality, continues to recover, registering the highest growth in the last one year, growing by 169 per cent over the last year. These are good signs indicating that the nation is on the path to economic recovery and we are hopeful that hiring activity will continue its strong momentum in the coming months.”