India’s job market shows 19% uptick in October, Bengaluru sees highest hiring growth – The News Minute

According to the latest Naukri JobSpeak report, demand for tech professionals continued to soar as the sector witnessed a significant 85% Y-o-Y growth in Oct ’21.
Bengaluru, followed by Hyderabad, Pune and then Chennai showed the highest growth in hiring in the country in October 2021, when compared to the corresponding period last year. The positive hiring trends have largely been attributed to the growth of the IT-Software and Software Services sector and this has enabled metro cities to outperform their tier-2 counterparts in the annual growth charts. 

According to the latest Naukri JobSpeak report, the average year-on-year (Y-o-Y) growth recorded in metro cities was 59% whereas non-metros grew at a slower pace of 30%. Bengaluru (+84%), Hyderabad (+80%), Pune (+69%) and Chennai (+57%) recorded the highest Y-o-Y growth in Oct ’21. Hiring activity was also positive in Delhi/NCR (+51%) and Mumbai (+46%) while Kolkata (+26%) witnessed relatively slower growth. Among the non-metros, Ahmedabad (+72%) witnessed maximum growth in Oct ‘21 followed by Coimbatore (+37%), Jaipur (+31%), Vadodara (+17%) and Chandigarh (+17%).
India’s job market once again surpassed pre-pandemic levels, showcasing a 19% uptick in Oct ’21 vs Oct ’19 and 43% Y-o-Y growth vs Oct ’20. Demand for tech professionals continued to soar as the sector witnessed a significant 85% Y-o-Y growth in Oct ’21. 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 Oct ’21. 
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 Oct ’20.

Hiring across all experience levels was positive in Oct ’21 as compared to Oct ’20 with demand for senior professionals belonging to the 8-12 yrs (+55%) bracket witnessing maximum traction. Demand was also positive for professionals in the 0-3 yrs (+36%), 4-7 yrs (+45%), 13-16 yrs (+36%,) and above 16 yrs (+30%) brackets.
“Overall hiring activity in India once again surpassed pre-pandemic levels in Oct’21; the JobSpeak Index marked a 19% growth as compared to Oct ’19 indicating continuous revival and recovery. Sectors like Hospitality/Travel and Retail, which were most impacted during the peak pandemic, have outperformed other major sectors bringing cheer to job seekers across the country,” said Pawan Goyal, Chief Business Officer, Naukri.com. 
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