Hiring trends across sectors: Retail leads, IT sector jobs fell 22% YoY
1 min read . Updated: 14 Feb 2023, 02:28 PM IST
Premium- The IT sector including Hardware, Software saw a 22% drop in hiring
Hiring activity in the retail space in January witnessed 19 per cent year-on-year growth whereas sectors including IT, Media & Entertainment, home appliances reported a slowdown, according to Foundit (formerly Monster) Insights Tracker (fit) for January 2023 report.
Retail is back again being the topmost industry in the hiring activity on-year basis. Also, travel and tourism showed a growth of 15% with major demand in operations with focus on increased revenue generation through digitalisation and personalisation.
Year-on-year growth momentum in Advertising, MR, PR (+15%) too strengthened this month, the report showed.
The IT sector including Hardware, Software saw a 22% drop in hiring. Media & Entertainment (-18%) sector has plummeted further, registering the sharpest deceleration among sectors.
Apart from these, other industries to monitor upsurge in hiring activity in January'23 include -- Shipping/Marine (+5%), Telecom/ISP (+4%), Chemicals/ Plastic/ Rubber, Paints, Fertilizer/ Pesticides (+3%), Office equipment/Automation (+3%), Logistic, Courier/ Freight/ Transportation (+2%) whereas FMCG, Food & Packaged Food (0%) and Real Estate (0%) remain silent while BFSI (-1%), Automotive/ Ancillaries/ Tyres (-3%), Production/ Manufacturing (-4%), Education (-8%), Engineering, Cement, Construction, Iron/ Steel (-8%), Agro-based Industries (-9%), BPO/ ITES (-10%), Healthcare, Bio Technology & Life Sciences, Pharmaceuticals (-15%), and BPO/ITES (-15%) sectors saw consecutive decline.
Meanwhile, Gujarat's Ahmedabad has emerged as the city in India with the most active hiring activity being done.
Ahmedabad registered a growth of 16% year-on-year basis and the demand was majorly driven by Advertising, MR & PR and BFSI industry.
Kolkata (-25%), Bangalore (-13%), Baroda (-7%), Hyderabad (-7%), Chennai (-9%), Kochi (-6%), Pune (-3%), Jaipur (-2%) and Coimbatore (-2%) saw the most restrained hiring activity and continue to weigh down the index recording negative annual growth in January’23.
