cities like Ahmedabad and Vadodara posted strong year-on-year growth of 28% and 14%, respectively, in April 2023.
Hiring activity index registers 5% drop from April 2022
Active hiring in non-tech sectors such as real estate and BFSI mitigated the decline in IT hiring in April, with the real estate sector seeing a 21% increase in hiring. However, hiring in the IT industry continues its continued correction with a 27% drop in hiring activity compared to April last year, according to the latest Naukri JobSpeak index.
According to the index, the oil and gas sector saw a 20% growth in hiring, followed by insurance (13%) and banking (11%), automotive (4%) and pharmaceuticals. (3%).
“IT giants, startups and unicorns have all felt the impact of the ongoing global downturn. Cities with a strong presence of IT-focused businesses, such as Bengaluru, Hyderabad and Pune, have been hardest hit. Besides IT, sectors such as BPO, edtech and retail also saw declines of 18%, 21% and 23%, respectively,” Jobsite Naukri.com said. focused on technology and data, in a press release.
Geographically, cities such as Ahmedabad and Vadodara showed strong year-on-year growth of 28% and 14%, respectively, in April 2023.
“At a value of 2,715, the Hiring Activity Index recorded a 5% decline from April 2022,” the statement said.
“The real estate sector led non-tech industries, seeing a 21% increase in hiring compared to the same month a year earlier. This growth is mainly the result of an increase in new residential and commercial property launches in metropolitan areas, which has prompted hiring for key positions such as tenders manager, construction engineer and construction engineer. civil engineer,” the statement read.
Among the major cities, Kolkata, Pune and Hyderabad recorded recruitment increases of 28%, 22% and 19%, respectively, in the real estate sector. Demand was highest for senior managers with more than 16 years of experience.
Among non-metropolitan cities, Ahmedabad leads in hiring trends with 28% growth in new job creation year-on-year, followed by Vadodara and Jaipur with 14% growth and 9% growth. the creation of new jobs, respectively. The banking, automobile and insurance sectors contributed mainly to the hiring activity observed in non-metropolitan cities. Real estate and oil and gas are the other sectors that recorded positive non-metro hiring sentiment.
“The demand for seasoned professionals with more than 16 years of experience has increased by 30% compared to April of last year, while the demand for 13 to 16 years of experience has increased by a respectable 20%. The demand for new graduates and professionals with 4 to 7 years of experience has decreased compared to the same month last year,” he added.
Pawan Goyal, Chief Commercial Officer of Naukri.com, said: “Growth in hiring activity in April was led by a few key sectors such as real estate, BFSI and oil and gas. While IT-focused metros showed cautious hiring sentiment, emerging cities such as Ahmedabad and Vadodara continue to shine.”
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