Job Market in India Grew By 57% in September Led by IT, Hospitality

According to the latest Naukri JobSpeak survey, The Indian job market maintained its record-breaking run for the third straight month in September, recording 57% year-on-year growth. The Index reached an all-time high of 2,753 job listings in September, outnumbering pre-Covid levels in September 2019 by 21%.

The Naukri JobSpeak Index is a monthly index that measures and tracks hiring activity on the Naukri.com website month after month. The goal of Naukri JobSpeak is to track recruiting activities across sectors, cities, and experience levels.

Most industries had a considerable year-on-year increase, topped by IT (138%) and hospitality (+82%) sectors. The latest wave of digital transformation in Indian organizations has increased the demand for IT experts. Hiring in the IT- software/software services industry increased by 138% year-on-year in September 2021.

According to the report, “Industries such as hospitality (82%) and retail (+70%), which were the most hit by the epidemic, had strong YOY increase in September, with numerous hotels and physical shop locations progressively reopening around the nation”.

 Hiring activity has also increased in the education (53%), banking/financial services (43%), and telecom/ISP (+37%) industries since September 2020.

Metros rose by 88% YOY in September, outpacing Tier 2 cities, which grew by 30%. According to the report, “The ongoing positive development of the IT-software/software services industry has enabled major It centres to beat other cities in the yearly growth charts.”

Employment across all experience levels grew in September compared to the previous year, owing primarily to the hiring market’s general good performance as it rebounds from the pandemic’s losses.

During this time, demand for senior professionals 8 to 12 years (75%) increased the most, followed by those 4 to 7 years (65%), 13 to 16 years (57%), 0 to 3 years (54%), and over 16 years (38%).

According to the Naukri JobSpeak report, job listings increased by 3% month on month, from 2,673 in August to 2,673 in September.

Naukri.com’s Chief Business Officer, Pawan Goyal, stated, “Hiring activity in India is at an all-time high. It is very gratifying to see the sectors revive at the start of the holiday season, fuelled by the need for IT experts. The market grew by 57%, suggesting a robust recovery following the epidemic. In September, the majority of industries, cities, and experience bands saw positive growth on both YoY and MoM charts.”