Education, BFSI, Real Estate Show Growth In Sequential Hiring: Naukri JobSpeak
With India getting back to work many sectors have witnessed sequential growth in hiring activities, including education, real estate and insurance, according to a report.
However, the overall job listings remained flat in January when compared with the previous month following negative growth in auto, pharma among others.
The Naukri JobSpeak Index, a monthly Index that calculates and records hiring activity based on the job listings on Naukri.com website month-on-month basis, stood at 1,925 in for January 2021, as compared to 1,972 in December 2020.
On a year-on-year level, the overall hiring showed a decline of 19% in January.
While overall hiring is down by 19% at a year-on-year level in January, it is interesting to see sectors like education, BFSI and real estate show growth in hiring sequentially," Naukri.com Chief Business Officer Pawan Goyal said.
The education and teaching domain sector saw over 11% increase in hiring in January, compared with December 2020, as colleges and schools are set to re-open in the post-Covid era.
The Insurance sector with over 8% increase in job listings also registered growth in sequential hiring as the demand for health insurance has gone up, it noted.
Other key sectors such as real estate with over 13% growth, retail (7%), BFSI (5%) and BPO/ITES (3%) too have shown growth in month-on-month hiring in January.
However, sectors like auto/ancillary witnessing 14% decline in hiring activity and telecom with 8% dip are still experiencing a slowdown in sequential growth as the country gradually returns to normalcy, the report said.
The report further revealed that key tier II cities saw an uptick in recruitment activity in January as hiring in Vadodara grew by over 9%, in Chandigarh by 8% and Jaipur 6%, sequentially.
However, all metro cities witnessed decline on a month-on-month level.
On a year-on-year basis, the report revealed that with the pharma/biotech witnessing a decline of 9% and IT-software by 11%, were the least impacted sectors while the hospitality/travel sector continued to be the most impacted with a 61% decline in hiring in January against same month of 2020.
Other key industries such as BPO/ITES witnessed 18% decline, BFSI dipped by 29% and Insurance by 23% also contributed to the overall decline in hiring trend in January compared to the same month last year.
The report further added that the entry-level experience band (0 to 3 years) witnessed the sharpest decline of 26% in hiring activity, and the over 13 years of experience band saw the least decline of 9% in January 2021 compared with the same month of 2020.