IT Hiring Slows as Businesses Embrace AI Solutions

Hiring in the IT industry fell by 21% in December 2023 compared to the same month in 2022 and 4% compared to the previous month, November 2023, according to the Naukri JobSpeak Index. Despite a cautious job market in the IT industry, some job roles saw strong hiring, including Full Stack Data Scientist, IT Infrastructure Engineer, and Automation Engineer. In December, the hospitality and pharmaceutical sectors were the leading sources of job growth. The 21% fall in IT hiring in December 2023 indicates a possible slowdown in the industry, although the impact on 2024 jobs is unknown. A careful strategy focused on reskilling, upskilling, and adjusting to changing demands can assist in navigating this era and creating new opportunities for both companies and job seekers.

Mumbai and Delhi NCR have the most significant job growth in this sector

Senior professionals with at least 16 years of experience emerged as the most sought-after hires in the field. The pharmaceutical sector saw a 2% rise in hiring in December 2023 compared to the same month in 2022. Professionals with at least 16 years of experience were in high demand in the sector.

Senior Marketing Managers and Store Managers had strong hiring in December 2023. Although the number of new job offers in the oil and gas sector was not exceptionally high in December 2023, it remained consistent with December 2022. Hiring in the industry increased in the cities of Ahmedabad and Delhi NCR. In December 2023, the sector's most in-demand employment roles were Industrial Relations, Maintenance Engineer, Maintenance Head, and Operations Manager.

In December 2023, non-metros outperformed metros in terms of IT hiring

Vadodara saw a 3% increase in new job offers in the most recent month compared to the same month in 2022. This growth is notably higher than in the metropolitan areas, where new job offers fell by 24%, 23%, 23%, 17%, and 16%, respectively.