BackHiring in India at an all-time high led by IT-ITeS sector: Naukri JobSpeak
The Indian job market has witnessed sequential growth for the second month in a row, with a 15% rise in June after a pandemic-linked decline in April and May
PremiumBENGALURU: Hiring activity in India touched an all-time high in July, led by the IT-ITeS sector, indicating a strong revival in economic growth and sustained recovery in business from the impact of covid-19, according to a Naukri JobSpeak report.
The country’s premier index on hiring trends grew 11% month-on-month to touch 2,625, the highest ever, including the pre-covid timeline. The Indian job market grown for the second month in a row, with a 15% rise seen in June after a pandemic-linked decline in April and May.
Rapid digital transformation across sectors has driven up demand for jobs in the IT sector which grew 18% month-on-month in July. “This demonstrates that enterprises are actively leading their recovery efforts and driving growth with digital transformation at the centre," the report said.
Almost all sectors registered positive growth in July contributing to the 11% month-on-month surge in hiring activity. Sectors that were severely hit by the movement restrictions during the pandemic continued to show growth in hiring for the second month in a row, including hotels/restaurants/airlines/travel (36%) and retail (17%).
Prominent economic and IT hubs clocked double-digit growth in hiring activity, reflecting the growing importance of digital transformation of businesses. Bengaluru (17%), Hyderabad (16%) and Pune (13%) witnessed double-digit growth in hiring during July versus June.
“July 2021 has provided conclusive proof of the revival of hiring activity in the country, after a setback in April and May. Not only has it increased by 11% in this month, but the Naukri JobSpeak Index has reached an all-time high in July ‘21, even surpassing pre-covid levels," said Pawan Goyal, chief business officer, Naukri.com.
“The most noteworthy and consistent growth over the last few months belongs to the IT/ITeS sector and the tech functional area, which has stayed relatively insular to the effects of the pandemic. This demonstrates that digital transformation of Indian businesses is well underway and central to recovery efforts after the pandemic," Goyal added.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
