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India Inc Hiring Jumps 38%; Travel, Hospitality Post Highest Growth In Jobs; Know Details

By: Business Desk

News18.com

Last Updated: May 06, 2022, 16:20 IST

The fresher's band of 0-3 years saw the highest growth of 214 per cent in the travel and hospitality sector in April 2022, according to a report

The fresher's band of 0-3 years saw the highest growth of 214 per cent in the travel and hospitality sector in April 2022, according to a report

Travel & hospitality saw a growth of 169 per cent year-on-year in hiring, while retail witnessed a 112 per cent jump

Hiring by domestic companies in April has jumped 38 per cent year-on-year (y-o-y) and it was positive for both metro and non-metro cities, according to a report by Naukri.com. The recruitment in the travel & hospitality sector, which was among the worst-hit sectors during the pandemic, showed growth in triple-digits as compared to the previous year.

“According to the Naukri JobSpeak April 2022 Index, hiring activity in India recorded 38 per cent y-o-y growth and the Index stood at 2,863 at the beginning of the new financial year,” said the job portal’s report on Friday.

Travel & hospitality saw a growth of 169 per cent year-on-year in hiring, while retail witnessed a 112 per cent jump, according to the report. The fresher’s band of 0-3 years saw the highest growth of 214 per cent in the travel and hospitality sector in April 2022.

The education sector (108 per cent) also grew at a “phenomenal pace” indicating a strong demand for talent, the report said adding that other sectors such as real estate (89 per cent), insurance (83 per cent), and BFSI (77 per cent) registered a “significant jump” in hiring activity in comparison to the last year.

With 63 per cent growth, Mumbai registered the highest growth in demand for new talent. In non-metros, a positive hiring sentiment is observed with Coimbatore leading the race once again by showing a strong growth trajectory at 63 per cent in April 2022 versus last year.

In another report by the Monster Employment Index recently, the hiring activity witnessed a 6 per cent year-on-year growth in March this year, supported by a rebound in economic activities and led by sectors such as banking and telecom. However, there was a marginal dip of 2.4 per cent in hiring activity as compared to February, owing to the appraisal season.

Sekhar Garisa, chief executive officer of Monster.com, a Quess company, said: “Two years into the pandemic, it is heartening to see that the Indian economy has overcome setbacks and challenges with hiring momentum exceeding pre-COVID levels by 6 per cent this year compared to 2020.”

It said all metros registered a double-digit growth on an annual basis. The Monster Employment Index is a comprehensive monthly analysis of online job posting activity conducted by Monster India.

Hiring demand in March was driven by banking/ financial services and insurance, which showed a remarkable improvement (up 37 per cent), followed by telecom/ISP (up 17 per cent) and production and manufacturing (up 16 per cent), it said.

However, there are sectors that saw a year-on-year decline. These include engineering, cement, construction, and iron/ steel (down 20 per cent), registering the sharpest deceleration among sectors.

Mumbai (up 21 per cent) led all the monitored cities for the first time on a yearly basis, followed by Coimbatore (up 20 per cent), Chennai and Hyderabad (up 16 per cent each), according to the report.

E-recruitment activity in Bengaluru (up 15 per cent) charted a positive trend, however, it was lower from the previous months, it noted.

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first published:May 06, 2022, 16:20 IST
last updated:May 06, 2022, 16:20 IST