After a 3 month-long nationwide lockdown brought the job market to a grinding halt, June brought about a ray of hope with a 33% increase in hiring activity. According to the Naukri JobSpeak Report, six key industries had picked pace – Pharmaceuticals, healthcare, global development centres, education, financial services and IT/ITES sectors were not impacted much by the lockdown. However, the revenue of companies declined due to a drop in productivity by the prolonged lockdown.
The pharma sector, which was the least impacted, saw a substantial improvement of 27% in creating jobs in June in comparison to May. The report highlighted Hyderabad and Kolkata as the two cities which had the least decline in hiring activity.
The IT-sector continues ahead as the leading job creator in the country. It contributes to the growth of overall hiring activities and remains to be one of the least impacted sectors to have been affected by the global health crisis. “The last month of the quarter saw a sequential uptick of 19 per cent in hiring. Delhi-NCR and Ahmedabad are the two cities leading the revival of the sector recording positive sequential growth,” said the report. In June, the BPO/ITES industry recorded a 48% growth in job listings on Naukri.com. Bangalore and Pune showed the fastest signs of recovery.
The worst-hit sectors have been entertainment, hospitality, aviation, tourism, travel, and retail, real estate, manufacturing and construction. Reports have highlighted workers from these sectors at the forefront of those seeking new job opportunities.
The travel and hospitality industry is amongst the worse hit industries by the pandemic. Hiring was at its lowest in April and May. But now, there are signs of improvement due to relaxations through Unlock 1.0. The retail industry has also been impacted badly by COVID-19. “The sector picked up momentum in hiring during the month by 77 per cent and further improvements are expected,” the report said.