On the back of increased retail fervour, festive hype and the opening up of educational institutes, the Naukri JobSpeak index recorded 26% year-on-year (Y-O-Y) growth in Nov’21. The country’s premier index was trending at 2173 in Nov’21 vs. 1727 in Nov’20.
Retail sector (47%) picks up pace in hiring; shows signs of recovery in the festive season
The onset of the festive season marked the comeback of the retail sector – showing a 47% Y-o-Y growth in Nov’21. Another sector which traditionally benefited in the festive season was Hospitality/Travel (+58%). In a bid to fall back to normalcy, schools are primed to reopen across the country; The Education sector (+54%) experienced a resultant uptick in hiring.
Hiring activity in Nov’21 has also grown in major job creation sectors – Banking/Financial Services (+30%) and IT-Software (+50%), as compared to Nov’20. While the Telecom/ISP (+91%) industry continues to grow, the index reported a muted growth in Medical/ Healthcare (+3%) and FMCG (+6%) sectors.
Hiring in Metro and Tier-II cities record 39% and 16% average annual growth respectively
Continuous growth of the IT-Software and BFSI sectors have enabled metro cities to outperform their tier – II counterparts in the annual growth charts. The average Y-O-Y growth recorded in metro cities was 39% whereas non-metros grew at a slower pace of 16%. Hyderabad (+47%), Pune (+47%) and Bengaluru (+49%) recorded the highest growth in Nov’21. Hiring was also positive in Mumbai (+36%), Delhi/NCR (+34%) and Chennai (+35%) while Kolkata (+23%) witnessed relatively slower growth.
Among the non-metros, Ahmedabad (+61%) witnessed maximum growth in Nov ‘21 followed by Coimbatore (+28%).
8-12 yrs band once again records highest annual growth as all experience bands see positive Y-O-Y trend
Hiring across all experience bands was positive in Nov’21 as compared to Nov’20 with demand for senior professionals belonging to the 8-12 yrs (+37%) bracket witnessing maximum traction. Demand was also positive for professionals in the 4-7 yrs (+30%), 0-3 yrs (+27%), 13-16 yrs (+26%) and above 16 yrs (+20%) brackets.
Commenting on the report, Pawan Goyal, Chief Business Officer, Naukri.com said, “Being two of the worst impacted sectors of the pandemic, the Hospitality/Travel and Retail industry have stood out in their recovery. Riding the festive wave in the past few months, these sectors have grown by 63% and 56% annually from Sept’21 – Nov’21.”