Source | economictimes.indiatimes.com | Sreeradha Basu, ET Bureau
Growth in India’s job market once again surpassed pre-pandemic levels, showcasing a 19% uptick vs Oct ’19. The country’s premier index was trending at 2523 in October 2021, recording 43% year-on-year (Y-O-Y) growth Vs October 2020 according to the latest Naukri JobSpeak report.
IT (+85%) leads hiring among sectors followed by Telecom/ISP (+84%) and Retail (+51%)
Demand for tech professionals continued to soar as the sector witnessed a significant 85% Y-O-Y growth in Oct’21. The upcoming launch of 5G and related services coupled with the government’s product linked incentive scheme (PLI) and the recent relief package for players in the field has boosted employment opportunities in the Telecom/ISP sector that grew by 84% in Oct ’21.
Hiring activity has also picked up in sectors like Retail (+51%) and Hospitality/Travel (+48%) with the ongoing holiday season, opening up of major offline outlets and peak sale season for e-commerce retailers. Other sectors like Education/Teaching (+41%) and Banking/Financial Services (+39%) also experienced growth as compared to Oct’20.