India's Job Market Expanded by 26% YoY Finds Naukri JobSpeak Index
The COVID-19 health catastrophe is an unparalleled upheaval that is affecting people's lives and livelihoods all across the world. Its ramifications will very probably be felt not only in the short term, but also in the medium and long term. Significant declines in economic output and labour market disruption have occurred in tandem with the severe health repercussions.
Fear of infection, government warnings, and general uncertainty resulted in a rapid decline in economic activity, disruption of global value chains, and a severe and widespread shock to the labour market. Furthermore, state-imposed lockdowns and commercial closures have had serious implications, with millions of people in a variety of countries losing their employment or completely losing their livelihoods. Many governments put in place comprehensive employment retention and/or income assistance systems to help workers, while industries were ordered to shut down in order to protect workers' health and promote compliance with mitigation and containment measures. Employers reorganised their operations to accommodate for remote working whenever possible.
Despite the challenges posed by the Delta COVID-19 version, the economy is recovering. Despite social isolation, economic development has frequently outperformed estimates during the epidemic, and individuals and businesses have maintained a remarkable degree of activity and spending. In November 2021, India's job market expanded by 26% year on year, showing that economic activity is returning to normal. Except for auto/auto ancillary, BPO/IPES, and IT - hardware and networking, according to the findings of the Naukri JobSpeak report for November 2021, every other industry has exhibited a positive year-on-year increase when compared to November last year. The country's leading index was trending at 2173 in November'21, up from 1727 in November'20.
Naukri.com, India's No. 1 employment portal and the flagship brand of Info Edge, the notion of e-recruitment was initially introduced in India. Naukri.com has continually grown since its debut in 1997, beating its competition in every category. Info Edge was India's first publicly traded internet company. According to Similar Web, the brand has a timeshare of more than 96 % across desktop, mobile, and app. Naukri.com is a recruiting platform that offers hiring-related services to businesses/recruiters, placement agencies, and job seekers in India and around the world. It provides, among other things, access to a resume database, job advertisements, and response management tools. Naukri.com currently serves over 59,500 unique clients with over 5,40,000 jobs and over 69 million CVs. The company has 77 offices across India in 47 locations, as well as abroad operations in Dubai, Riyadh, Abu Dhabi, Qatar, and Bahrain.
The Naukri JobSpeak Index is a monthly index that measures and records hiring activities on the Naukri.com website. Naukri JobSpeak's mission is to track hiring activity across industries, cities, and levels of experience. The data is taken from the website, which takes into account positions posted by clients on Naukri.com. The data for July 2008 is used as the baseline, with an index value of 1,000, and the subsequent monthly indexes are compared to the July 2008 data. The study looks at recruiting trends across industries, geographies, and levels of experience.
What Naukri JobSpeak Comments on Rapid Spike in Hiring Activity in November - Overall
The beginning of the Festive season heralded the return of the retail sector, which expanded by 47 % year on year in November of this year. Another industry that has traditionally thrived during the holiday season is hospitality/travel (+58 %). The telecom industry's upward trajectory continued, with 91 % annual growth. Hiring activity in metros surpassed that of tier 2 cities once again, increasing by 39 % year on year in November of this year, while non-metros climbed at a slower rate of 16 %. The IT hubs of Bengaluru (+49%), Hyderabad (+47%), and Pune (+47%) experienced the greatest growth in November of this year. Demand for senior experts with 8-12 years of expertise surged by 37% year on year in November of this year.
Hiring Trend in Industrial Level
In November 2021, the telecom and ISP industry saw the most improvement, with a 91% year-over-year increase. The Retail and Hospitality/Travel industries climbed by 47% and 58 %, respectively, in November 21 compared to November 20 due to increased retail frenzy and festive excitement. Schools are due to reopen around the country in an effort to restore normalcy; as a result, hiring in the Education sector (+54 %) has increased. Recruiting activities in key job creation areas such as IT-Software (+50%) and Banking/Financial Services (+30%) increased in November 21 compared to November 20. According to the index, the FMCG (+6%) and medical (+3%) businesses grew as well.
Hiring Trend in Geographical Level
According to the report, job market demand improved across the country, with only a few areas experiencing negative growth. Kochi and Chandigarh, for example, saw a 2% and 4% fall in the labour market, respectively.
Due to the continued growth of the IT-Software and BFSI industries, metro cities have outperformed their tier - II counterparts in the annual growth charts. Metro cities grew at a quicker pace of 39% year on year, while non-metros grew at a slower rate of 16%. In November, the cities with the highest increases were Hyderabad (+47%), Bengaluru (+49%), and Pune (+47%). Hiring was also up in Chennai (+35%), Delhi/NCR (+34%), and Mumbai (+36%), but down in Kolkata (+23%).
Ahmedabad (+61%) had the highest increase among non-metros in November '21, followed by Coimbatore (+28%).
Hiring Trend in Experience Level
Hiring increased across the board in November 21 compared to November 20, with senior professionals aged 8 to 12 years (+37 %) getting the most traction. Professionals aged 4-7 years (+30%), 0-3 years (+27%), 13-16 years (+26%), and over 16 years (+20%) were also in high demand.
Hiring increased across the board in November 21 compared to November 20, with senior professionals aged 8 to 12 years (+37 %) getting the most traction. Professionals aged 4-7 years (+30%), 0-3 years (+27%), 13-16 years (+26%), and over 16 years (+20%) were also in high demand.
According to the Naukri JobSpeak index for November, despite the fact that the market is down by a percentage year over year, jobseekers, recruiters, and executives are searching for a sequential bounce to see if there is a silver lining.
Fear of infection, government warnings, and general uncertainty resulted in a rapid decline in economic activity, disruption of global value chains, and a severe and widespread shock to the labour market. Furthermore, state-imposed lockdowns and commercial closures have had serious implications, with millions of people in a variety of countries losing their employment or completely losing their livelihoods. Many governments put in place comprehensive employment retention and/or income assistance systems to help workers, while industries were ordered to shut down in order to protect workers' health and promote compliance with mitigation and containment measures. Employers reorganised their operations to accommodate for remote working whenever possible.
Despite the challenges posed by the Delta COVID-19 version, the economy is recovering. Despite social isolation, economic development has frequently outperformed estimates during the epidemic, and individuals and businesses have maintained a remarkable degree of activity and spending. In November 2021, India's job market expanded by 26% year on year, showing that economic activity is returning to normal. Except for auto/auto ancillary, BPO/IPES, and IT - hardware and networking, according to the findings of the Naukri JobSpeak report for November 2021, every other industry has exhibited a positive year-on-year increase when compared to November last year. The country's leading index was trending at 2173 in November'21, up from 1727 in November'20.
Naukri.com, India's No. 1 employment portal and the flagship brand of Info Edge, the notion of e-recruitment was initially introduced in India. Naukri.com has continually grown since its debut in 1997, beating its competition in every category. Info Edge was India's first publicly traded internet company. According to Similar Web, the brand has a timeshare of more than 96 % across desktop, mobile, and app. Naukri.com is a recruiting platform that offers hiring-related services to businesses/recruiters, placement agencies, and job seekers in India and around the world. It provides, among other things, access to a resume database, job advertisements, and response management tools. Naukri.com currently serves over 59,500 unique clients with over 5,40,000 jobs and over 69 million CVs. The company has 77 offices across India in 47 locations, as well as abroad operations in Dubai, Riyadh, Abu Dhabi, Qatar, and Bahrain.
The Naukri JobSpeak Index is a monthly index that measures and records hiring activities on the Naukri.com website. Naukri JobSpeak's mission is to track hiring activity across industries, cities, and levels of experience. The data is taken from the website, which takes into account positions posted by clients on Naukri.com. The data for July 2008 is used as the baseline, with an index value of 1,000, and the subsequent monthly indexes are compared to the July 2008 data. The study looks at recruiting trends across industries, geographies, and levels of experience.
What Naukri JobSpeak Comments on Rapid Spike in Hiring Activity in November - Overall
The beginning of the Festive season heralded the return of the retail sector, which expanded by 47 % year on year in November of this year. Another industry that has traditionally thrived during the holiday season is hospitality/travel (+58 %). The telecom industry's upward trajectory continued, with 91 % annual growth. Hiring activity in metros surpassed that of tier 2 cities once again, increasing by 39 % year on year in November of this year, while non-metros climbed at a slower rate of 16 %. The IT hubs of Bengaluru (+49%), Hyderabad (+47%), and Pune (+47%) experienced the greatest growth in November of this year. Demand for senior experts with 8-12 years of expertise surged by 37% year on year in November of this year.
Hiring Trend in Industrial Level
In November 2021, the telecom and ISP industry saw the most improvement, with a 91% year-over-year increase. The Retail and Hospitality/Travel industries climbed by 47% and 58 %, respectively, in November 21 compared to November 20 due to increased retail frenzy and festive excitement. Schools are due to reopen around the country in an effort to restore normalcy; as a result, hiring in the Education sector (+54 %) has increased. Recruiting activities in key job creation areas such as IT-Software (+50%) and Banking/Financial Services (+30%) increased in November 21 compared to November 20. According to the index, the FMCG (+6%) and medical (+3%) businesses grew as well.
Hiring Trend in Geographical Level
According to the report, job market demand improved across the country, with only a few areas experiencing negative growth. Kochi and Chandigarh, for example, saw a 2% and 4% fall in the labour market, respectively.
Due to the continued growth of the IT-Software and BFSI industries, metro cities have outperformed their tier - II counterparts in the annual growth charts. Metro cities grew at a quicker pace of 39% year on year, while non-metros grew at a slower rate of 16%. In November, the cities with the highest increases were Hyderabad (+47%), Bengaluru (+49%), and Pune (+47%). Hiring was also up in Chennai (+35%), Delhi/NCR (+34%), and Mumbai (+36%), but down in Kolkata (+23%).
Ahmedabad (+61%) had the highest increase among non-metros in November '21, followed by Coimbatore (+28%).
Hiring Trend in Experience Level
Hiring increased across the board in November 21 compared to November 20, with senior professionals aged 8 to 12 years (+37 %) getting the most traction. Professionals aged 4-7 years (+30%), 0-3 years (+27%), 13-16 years (+26%), and over 16 years (+20%) were also in high demand.
Hiring increased across the board in November 21 compared to November 20, with senior professionals aged 8 to 12 years (+37 %) getting the most traction. Professionals aged 4-7 years (+30%), 0-3 years (+27%), 13-16 years (+26%), and over 16 years (+20%) were also in high demand.
According to the Naukri JobSpeak index for November, despite the fact that the market is down by a percentage year over year, jobseekers, recruiters, and executives are searching for a sequential bounce to see if there is a silver lining.
