Indian Jobs 2022: Hiring Activity Remains Stable with 6% YoY Growth in August.According to the NaukriJobSpeak Index, hiring activity remained steady in August with a 6% year-over-year increase, led by the insurance industry.
On the Naukri.com platform, there were 2,828 job posts as opposed to 2,673 in the same month previous year. However, compared to 3,170 in July, the platform saw a sequential fall in job posts of 10.78%. The NaukriJobSpeak is an index that tracks hiring trends monthly using job postings from the Naukri.com website.
In terms of cities, the insurance industry demonstrated a considerable increase in recruiting activity in the National Capital Region (136%) and Mumbai (129%) in August 2022 compared to the previous year.The insurance industry, which reported yearly growth in hiring for the eighth consecutive year, saw a significant increase of 87 percent year over year.
Maximum traction across the industry was observed for the 4-7 years’ experience band (103%) followed by 0-3 years (99%) and 8-12 years (12%). (42 per cent). Other industries have also shown a favourable intent to employ, including travel and hospitality (56%), auto and auto auxiliary (29%), real estate (24%), and retail (18 per cent).
The pharmaceutical and biotech industries did not change in August, but the IT/software industry had a 10% year-over-year fall.The index also showed that Coimbatore led tier-II cities with over 28% year-on-year increase, followed by Kochi at 27%.
Bengaluru experienced a 10% decline.
With regard to experience, recruiting activity increased by a single digit percentage in all experience groups, including 0–3 years (7%), 4–7 years (5%), 8–12 years (6%), 13–16 years (7%) and below 16 years (7 per cent).
“Hiring activity is showing symptoms of stabilisation after seeing an astronomical growth rate in the previous two to three months; it will be interesting to observe how the pattern plays out in the upcoming months.
“Important to note that insurance as a sector has been flourishing since the start of this year as there has been continuous growth in hiring, which is creating opportunities across experience bands with over 100 per cent y-on-y growth in 0-7 years’ experience band,” Naukri.com Chief Business Officer PawanGoyal said.
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