The Indian job market maintained its upward climb for the third consecutive month in a row, clocking 57% year-on-year (Y-O-Y) growth in Sept’21 according to the latest Naukri JobSpeak report. At 2,753, the country’s premier index hit an all-time high in Sept’21 surpassing pre-COVID levels in Sept’19 by 21%.
Most sectors showcased significant annual growth, led by IT and Hospitality
Y-O-Y hiring in the IT-Software/Software Services sector has grown by 138% in Sept’21. Sectors like Hospitality (+82%) and Retail (+70%) which were most impacted by the pandemic, also witnessed significant Y-O-Y growth in Sept’21 with several hotels and physical store outlets across the country gradually reopening. Hiring activity has also grown in the Education (+53%), Banking/Financial Services (+43%) and Telecom/ISP (+37%) sectors as compared to Sept’20.
Metros record 88% annual growth in Sept’21
The continuous positive growth of the IT-Software/Software Services sector has enabled major IT hubs to outperform other cities in the annual growth charts. Bengaluru (+133%), Hyderabad (+110%), Pune (+95%) and Chennai (+85%) recorded the highest Y-O-Y growth in Sept’21. Hiring activity was also positive in Delhi/NCR (+72%) while Mumbai and Kolkata both recorded 60% growth. Among the tier-II cities, Ahmedabad (+82%) and Coimbatore (+46%) recorded the highest annual growth followed by Vadodara (+33%) and Kochi (+19%).
Commenting on the report, Pawan Goyal, Chief Business Officer, Naukri.com said, “India is witnessing a never seen before activity in hiring. Fueled by the demand for IT professionals, it truly is heartening to see the industries recover at the onset of the festive season. The market witnessed 57% Y-O-Y growth indicating strong revival of the market post pandemic. Majority of the sectors, cities and experience bands have recorded positive growth in both Y-O-Y and M-O-M charts in the month of Sept’21.”
The recent wave of digital transformation among Indian organizations continues to generate demand for tech professionals. As a result, hiring across all experience bands has increased in Sept’21 vs Sept’20, largely due to the overall positive performance of the hiring market as it recovers from the setbacks caused by the pandemic.