Hiring Picked Up Across Sectors In July: Naukri Jobspeak Index

Hiring activity rose across sectors in India in July, according to the Naukri JobSpeak index. The month saw an 11.4% month-on-month increase in the number of people hired.

India's white collar hiring grew to 2,877 points in July 2024, versus 2,582 points in June 2023 and 2,573 points in July 2023. The hiring activity in July 2023 was largely subdued due to a slowdown in recruitment in the information technology space.

Pharma/biotech and fast-moving consumer goods lead growth, with 26% year-on-year growth each. Real estate saw 23% growth in hiring and the artificial intelligence and machine learning segment saw a 47% year-on-year increase versus a dip in the month of June.

Global Capacity Centres saw a 12% year-on-year increase in hiring, while the information technology and software services sector saw 17% growth. The IT sector was subdued in July 2023 due to muted hiring across the industry.

Among metro cities, Pune and Delhi led the pack by registering 21% growth in hiring, while Mumbai and Bengaluru reported the lowest at 14%. Among others, Gujarat led the pack, with Rajkot, Jamnagar and Baroda recording 39%, 38% and 25% growth, respectively. Hyderabad registered 19% growth and emerged as a key hub for job creation across multiple key industries, including hospitality (76%), insurance (71%), BPO (52%) and oil and gas (44%).

Most hiring was observed at the top level for candidates with more than 16 years of experience. However, candidates with the least experience, that is, less than three years, saw a healthy 7% increase in job opportunities as compared to June 2023.

Naukri JobSpeak is a monthly index representing the state of the Indian job market and hiring activity, based on new job listings and job-related searches by recruiters on the resume database of Naukri.com. The JobSpeak index captures hiring activity across multiple dimensions, including industries, cities, functional areas, and experience bands. July 2008 is the base month with an index value of 1,000, and the subsequent monthly index values are compared with the data for July 2008. The report does not cover gig employment, hyperlocal hiring, or campus placement.