White-collar hiring activity in India increased by 12% in July compared to the same month last year, with most sectors showing healthy double-digit growth, according to a report released on Friday.
The Naukri JobSpeak Index, which tracks India’s job market based on new job listings and job-related searches on Naukri.com, revealed that job postings grew to 2,877 in July 2024, up from 2,573 in July 2023.
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Pharma/biotech and FMCG sectors both reported a 26% growth, real estate grew by 23%, and the AI-ML sector saw a remarkable 47% year-on-year increase. The report noted that last year’s numbers were impacted by challenges in the IT sector, which has since seen a 17% growth.
Geographically, Gujarat led the way, with Rajkot, Jamnagar, and Baroda recording 39%, 38%, and 25% growth, respectively. Hyderabad emerged as a key hub for job creation across multiple industries, including hospitality (76%), insurance (71%), BPO (52%), and oil and gas (44%). Visakhapatnam and Vijayawada also reported healthy sequential growth of 13% and 14%, respectively.
Pawan Goyal, Naukri’s Chief Business Officer, commented, “The robust 12% growth in hiring activity is a much-awaited, encouraging sign for this financial year. This is the first month this year that we have seen positive growth, and the fact that it is secular, cutting across sectors and geographies, makes it truly promising. This broad-based, positive shift could potentially be the onset of an upcycle in the Indian white-collar job market.”
