Indian job market growth backed by non-IT sectors in January: Report

Sectors such as insurance, banking, auto and oil drove hiring across the country

February 3, 2023

India’s hiring activity saw a 2% growth last month, despite a 25% decline in hiring in the Information Technology (IT) sector

Non-metro cities majorly drove new job creation last month

Ahmedabad recorded the most job creation at 40% among the healthcare and insurance sectors

Mumbai recorded a hiring growth of 14%, followed by Delhi at 10%

India’s job market was driven by emerging cities in January 2023, where companies across multiple industries (non-IT) increased their talent search beyond metro cities, according to a report from Naukri JobSpeak. 

According to the report, India’s hiring activity saw a 2% growth last month despite a 25% decline in hiring in the IT sector. Non-IT sectors such as insurance, oil, hospitality and banking have compensated for that decrease. 

Among locations, non-metro cities majorly drove new job creation last month where Ahmedabad recorded the most at 40% among healthcare and insurance sectors, followed by Baroda at 37% where the construction sector did the majority of hiring. On top of that, Jaipur recorded a 14% growth, led majorly by Business Process Outsourcing (BPO) and banking sectors. 

Regarding metro cities, Mumbai recorded a growth of 14%, followed by Delhi at 10%, primarily across the insurance sector for both. 

Source: Financial Express

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