Hiring activity jumps to all-time high: survey
MUMBAI: Hiring activity in the country touched an all-time high in July, witnessing a 11% sequential increase, indicating a strong revival of economic growth and a recovery of business from the impact of Covid-19, a report said on Friday.
With 2,625 job postings, hiring trends grew 11% in July compared with 2,359 postings in June, the highest it has ever been, including the pre-Covid-19 timeline, according to the report by Naukri JobSpeak.
The job market has witnessed sequential growth for the second month in a row, with a 15% rise in June, after the pandemiclinked decline in April and May, it stated.
The Naukri JobSpeak is a monthly index that calculates and records hiring activity based on the job listings on Naukri.com website month-onmonth.
According to the report, as businesses continued to ride the wave of digitisation, the IT-software or software services sector maintained its growth momentum with an 18% increase in July compared to June.
Almost all sectors registered positive growth in July contributing to the 11% growth in hiring activity, bringing cheer to job seekers, said the report.
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 and travel (36%) as well as retail (17%).
Accounting and taxation with 27%, FMCG (17%), banking and financial services (13%) and education and teaching (8%) also saw positive sequential upswing in hiring activity during the same period.
The pharma, biotech and clinical research sector saw a marginal drop of 5% in jobs, while the media, dotcom and entertainment sector dropped 15% in July.
Naukri.com chief business officer Pawan Goyal said, “July 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 July, but the Naukri JobSpeak Index has reached an all-time high in this month, even surpassing pre-Covid-19 levels.” He added that the most noteworthy and consistent growth over the past few months belongs to the information technology (IT) and IT-enabled services sectors and the tech functional area, which has stayed relatively insular to the effects of the pandemic.