Active hiring in non-tech sectors such as real estate and BFSI mitigated the dip in IT sector hiring in April, with the real estate sector witnessing a 21 per cent upswing in recruitment. However, The IT industry’s hiring continues its ongoing correction with a 27 per cent decrease in hiring activity compared to April last year, according to the latest Naukri JobSpeak Index.
According to the Index, the oil & gas sector saw a 20 per cent growth in hiring, followed by insurance (13 per cent) and banking (11 per cent), auto (4 per cent) and pharma (3 per cent).
“IT behemoths, startups, and unicorns have all felt the impact of the ongoing global slowdown. Cities with a heavy presence of IT-focused companies, such as Bengaluru, Hyderabad, and Pune, were the hardest hit. Besides IT, sectors such as BPO, edtech, and retail also registered declines of 18 per cent, 21 per cent, and 23 per cent, respectively,” tech- and data-driven Jobsite Naukri.com said in a statement.
Geographically, cities such as Ahmedabad and Vadodara exhibited strong y-o-y growth of 28 per cent and 14 per cent, respectively, in April 2023.
“At a value of 2715, the hiring activity index registered a 5 per cent decline compared to April 2022,” according to the statement.
“The real estate sector spearheaded non-technology industries, witnessing a 21 per cent upswing in recruitment compared to the same month previous year. This growth predominantly resulted from an increase in new launches of residential and commercial properties across metropolitan areas, prompting hiring in key roles such as Tender Manager, Construction Engineer, and Civil Engineer positions,” the statement said.
Among the large metros, Kolkata, Pune, and Hyderabad exhibited recruitment surges of 28 per cent, 22 per cent, and 19 per cent, respectively, in hiring for the real estate sector. The demand was highest for senior professionals with more than 16 years of experience.
Among Non-metro cities, Ahmedabad leads hiring trends with a 28 per cent growth in new job creation compared to last year, followed by Vadodara and Jaipur with 14 per cent and 9 per cent growth in new job creation, respectively. Banking, Auto, and Insurance sectors have primarily contributed to the hiring activity observed across the Non-metro cities. Real estate and oil & gas were the other sectors witnessing positive hiring sentiment in the non-metros.
“Demand for senior professionals with more than 16 years of experience increased by 30 per cent compared to April last year, while the demand for 13-16 years of experience increased by a respectable 20 per cent. The demand for fresh graduates and professionals with 4-7 years of experience has declined compared to the same month last year,” it added.
Pawan Goyal, chief business officer of Naukri.com, said, “The growth in the April hiring activity was dominated by a few key sectors such as real estate, BFSI, and oil & gas. While IT-focused metros exhibited a cautious hiring sentiment, emerging cities such as Ahmedabad and Vadodara continue to shine.”