Job Market: The beginning of the year 2022 has been great for jobseekers due to large scale recruitments in various industries. According to the Naukri JobSpeak Index, there was a record 41 per cent year-on-year growth in recruitments in January. The index reached a level of 2,716 in January, 2022 as compared to 1925 in January, 2021. The growth in hiring activity was the highest mainly in sectors such as IT-software, retail and telecom.
Corporate world excited about growth
Despite the third wave of COVID-19, the hiring sentiment improved significantly in early 2022 as the corporate world was bullish on growth. Compared to 2021, there were signs of strong growth in most of the important sectors. Apart from key sectors, other sectors such as pharma (29 per cent), medical/healthcare (10 per cent), oil and gas/power (8%), insurance (8%), FMCG (7%) and manufacturing (2%) Hiring also increased compared to last year. However, the trend remained flat in the auto/auto ancillary segment.
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Metro cities have done well
Metro cities outperformed Tier-II cities on a year-on-year basis due to increase in hiring in the IT-Software and BFSI sectors. India’s IT hubs – Bangalore (79 per cent), Hyderabad (66 per cent) and Pune (63 per cent) – registered the highest growth in January this year. Mumbai (58 per cent), Chennai (54 per cent), Kolkata (41 per cent) and Delhi/NCR (35 per cent) also saw an increase in hiring activity.
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Ahmedabad tops non-metro cities
Among non-metro cities, Ahmedabad (50 per cent) saw the highest growth in January, followed by Coimbatore (43 per cent), Kochi (27 per cent), Vadodara (12 per cent) and Jaipur (8 per cent).
January saw significant hiring across all experience bands, while January a year ago saw the highest demand for senior professionals in the experience bracket of 8-12 years (48 per cent).
Pawan Goel, Chief Business Officer, Naukri.com said, “Despite the third wave, 2022 has been off to a great start with the hiring sentiment improving across sectors and cities. Even though we saw growth in 2021, the first month of 2022 has been great for industries across the country.”