Growth in India’s job market once again surpassed pre-pandemic levels, showcasing a 19% uptick in October this year as compared to the same period last year. The Naukri JobSpeak index was trending at 2523 in October 2021, recording 43% year-on-year growth versus October 2020, according to the latest Naukri JobSpeak report.
The hiring was led by the IT sector (85%) followed by telecom/internet service provider (84%) and retail (51%). Demand for tech professionals continued to soar as the sector witnessed a significant 85% annual growth in October 2021.
“The upcoming launch of 5G and related services coupled with the government’s product linked incentive scheme (PLI) and the recent relief package for players in the field has boosted employment opportunities in the telecom/ISP sector that grew by 84% in October 2021,” the report said.
Hiring activity has also picked up in sectors like retail (51%) and hospitality/travel (48%) with the ongoing holiday season, opening up of major offline outlets and peak sale season for e-commerce retailers. Other sectors like education/teaching (41%) and banking/financial services (39%) also experienced growth as compared to October last year.
Hiring activity in metros surpassed tier-2 cities once again, growing 59% annually in October 2021. Growth of the IT-software/services sector has enabled metro cities to outperform their tier-2 counterparts in the annual growth charts.