White-collar Hiring in India is Down 8.6% with IT Sector Trailing: Read Details

According to a survey released Monday, white-collar hiring fell 8.6% year on year in September, suggesting a declining trend in areas such as IT, BPO or ITES, and FMCG. However, job posts have increased by about 6% monthly. According to Naukri.com's monthly 'Naukri JobSpeak Index,' there were 2,835 white-collar job posts in September, down 8.6 percent from last year when 3,103 positions were listed.

Why White-collar Hiring Is Down?

According to the poll, the IT industry has continued to confront global headwinds and has seen hiring numbers decline in recent months. At the same time, BPO/ITES and FMCG experienced negative growth of 25% and 23% during the review period. "While the IT sector remains impacted, the banking sector's robust growth is a bright spot." "When combined with the fact that the overall index grew by 6% sequentially, this highlights the resilience of the Indian job market, which is anchored in sectoral diversity," according to Naukri.com chief business officer Pawan Goyal.

According to the research, the hospitality and travel industries enjoyed the highest growth as families, and lone travellers took advantage of the monsoon season. In September, Mumbai had the most new job opportunities in this area, with positions for restaurant managers and guest services in high demand. Financial services, banking and insurance (BFSI), and healthcare grew by 7% yearly in September. According to the research, branch manager and financial consultant positions were in high demand.

According to the data, the oil and gas and auto sectors grew by 6% in September compared to last year. Meanwhile, the survey revealed that non-metro cities continued outperforming metro areas regarding job generation in September 2023. Hiring in Vadodara, Ahmedabad, and Jaipur increased by 4%, 3%, and 2% in September compared to the same month the previous year. The Naukri JobSpeak Index is a monthly index representing the state of the Indian job market and recruiting activity based on fresh job ads and job-related searches conducted by recruiters on Naukri.com's resume database.