India jobs: Non-IT sectors continue to drive white collar jobs in December: Naukri JobSpeak

India jobs: Non-IT sectors continue to drive white collar jobs in December: Naukri JobSpeak


Hiring activity in India’s white collar job market showed resilience in December despite slowdowns in some key sectors, according to Naukri JobSpeak, a leading job index, for the month of December.

The data put together by online jobs platform Naukri.com shows that hiring activity in December ended 4% higher compared to the same month a year ago despite global macroeconomic headwinds. The momentum generated in the beginning of 2022 sustained into the second half of this year, barring a few key sectors.

However, a sector wise analysis comparing December 2022 to first half of 2022 (Jan-Jun period) reveals a mixed trend as a growth in domestic economy driven sectors & non-metro cities has offset the slowdown seen in IT & BPO, resulting in sequential stability at aggregate level, according to a press release.

The December 2022 numbers when compared to the first half of 2022, showed a robust 51% growth in hiring activity for the insurance sector. Other sectors, which recorded an upward trend versus the first half of 2022, include oil (33%), banking (24%), real estate (21%), and auto (12%). However, IT & BPOs – sectors linked to global markets declined by 19% and 9% respectively in December compared to the first half of the year, with start-up hiring impacted the most.

“The Indian job market exhibited favorable hiring activity in 2022, with a 20% increase in new job creation compared to the full year base of 2021,” said Pawan Goyal, Chief Business Officer, Naukri.com.

“However, we do witness a correction in key sectors like IT and BPO towards the latter half of the year currently being offset by hiring activity uptick in non-IT sectors like insurance, banking and real estate,” he added. “As we enter 2023, the positive trends observed in non-IT sectors and smaller cities, keep us watchful yet optimistic,” said Goyal.

The Naukri JobSpeak is a monthly Index representing the state of the Indian job market & hiring activity based on new job listings as well as job-related searches by recruiters on the resume database on Naukri.com. The index is aggregated based on the hiring activity of over 100,000 clients with more than 70 Lakh new job mandates every year.Among non-metros, Ahmedabad led the list with 39% growth, followed by Vadodara at 29%, and Jaipur at 16%. Among the top-tier metro cities, Delhi/NCR and Mumbai witnessed 12% growth in hiring activity compared to the monthly average of the first half of the year. Similar trend was observed for Kolkata, where new jobs created grew by 3%. On the contrary, Chennai, Pune, Hyderabad, and Bengaluru, largely dependent on the IT sector, showed a decline of -4%, -7%, -11%, -15%, respectively.

The long-term demand for professionals across levels was stable throughout the year. Professionals having 16+ years reported 26% of growth and the 13-16 years of experience segment rose by 15%. However, the largest segment that comprises freshers and mid-experience professionals remained flat.



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Author: Shirley