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Indian job market records a strong recovery with 89% annual growth in Aug’21: Naukri JobSpeak

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Indian job market records a strong recovery with 89% annual growth in Aug’21: Naukri JobSpeak

Hiring activity in India is on a positive trajectory recording a year-on-year (YOY) growth of 89% in Aug’21 with the country’s premier index trending at 2673, as compared to Aug’20, according to Naukri JobSpeak. Another victory for the jobs market is that hiring activity in Aug’21 has surpassed pre-pandemic levels in Aug’19 by 24%.

Several sectors, led by IT, showcase promising growth in hiring compared to pre-pandemic levels. The IT Software sector displayed resilience to the after-effects of the pandemic, so much so that it grew by 79% in Aug’21 over a stable period in Aug’19. The Education/Teaching recorded a strong annual recovery growing by 102% in Aug’21 and has now surpassed hiring in Aug’19 by 34%. Similarly, other sectors that have now exceeded pre-COVID numbers in Aug’19 are Real Estate (15%), Telecom (13%), Medical/Healthcare (8%), Pharma/Biotech (7%), Insurance (6%), and BFSI (5%).

The ambiguous status of rules related to Travel and Hospitality has been an obstacle for the industry and the sector is still down by 53% in comparison to Aug’19. But in contrast to the situation in Aug’20 when lockdown regulations were still not relaxed, the sector has picked up in hiring by 134% in Aug’21.

Commenting on the report, Pawan Goyal, Chief Business Officer, said “With a fair share of setbacks in 2020, we can finally acknowledge a trend of overall recovery in the job market. While Jan-May’21 were still in the red compared to pre-pandemic numbers of 2019, we see a positive growth trend starting in June’21. IT continues to dominate hiring and industries such as Education, Telecom, BFSI and Insurance are bouncing back too. As a result of increased hiring, the requirement for HR/Admin professionals too has seen a substantial uptick indicative of growth plans across organizations.”

Also Read: JioPhone Next to launch on September 10: All you need to Know

As major industries get on the track to recovery, hiring for certain roles too have picked up with increased jobseeker movement across the market. Hiring for HR/Admin and IT-Software roles has gone up significantly in Aug’21 over Aug’20 among others.

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