According to a report published by Naukri JobSpeak, the hiring activity in the white collar professional segment rose by 4 per cent in December 2022, compared to the same month in the previous year.
There has been a 4 per cent growth in job postings with 2,890 job postings for white collar jobs in December 2022, on the Naukri platform, according to Naukri JobSpeak. 2,770 jobs were posted in December 2021.
The Naukri JobSpeak is a monthly index representing the state of the Indian job market and hiring activity based on new job listings as well as job-related searches by recruiters on the resume database on Naukri.
The report further stated that the momentum generated in the beginning of 2022 sustained into the second half of this year, barring a few key sectors.
However, a sector wise analysis comparing December 2022 to the first half of 2022 (January-June period) revealed a mixed trend.
The growth in domestic economy-driven sectors and non-metro cities has offset the slowdown seen in IT and BPO, resulting in sequential stability at aggregate level, it added.
Compared to December 2021, stable growth was seen across multiple sectors, but the mix shifted in the second half of 2022, with domestic-economy driven sectors recording stronger growths.
According to the report, in December 2022, numbers when compared to the first half of 2022 showed a robust 51 per cent growth in hiring activity for the insurance sector.
Other sectors, which recorded an upward trend compared with the first half of 2022, include oil (33 per cent), banking (24 per cent), real estate (21 per cent) and auto (12 per cent).
However, IT and BPO sectors linked to global markets declined by 19 per cent and 9 per cent, respectively, in December from the first half of the year, with startup hiring impacted the most, it noted.
Meanwhile, amongst non-metros, Ahmedabad led the list with 39 per cent growth, followed by Vadodara at 29 per cent and Jaipur at 16 per cent.
Among the top-tier metro cities, Delhi/NCR and Mumbai witnessed a 12 per cent growth in hiring activity compared to the monthly average of the first half of the year.
Similar trend was observed for Kolkata as well, where new jobs created grew by 3 per cent, the report revealed.
On the contrary, Chennai, Pune, Hyderabad and Bengaluru, largely dependent on IT sector, showed a decline of 4 per cent, 7 per cent, 11 per cent, and 15 per cent, respectively, it said.
“The Indian job market exhibited favourable hiring activity in 2022, with a 20 per cent increase in new job creation compared to the full year base of 2021. However, we do witness a correction in key sectors like IT and BPO towards the latter half of the year currently being offset by hiring activity uptick in non-IT sectors like insurance, banking and real estate.
This reaffirms the multi-sectoral and balanced footprint of the Indian white-collar job market.
“As we enter 2023, the positive trends observed in non-IT sectors and smaller cities keep us watchful yet optimistic with respect to 2023,” Naukri.com Chief Business Officer Pawan Goyal added.
(With PTI input)