March 17, 2023
E-recruitment saw a marginal year-on-year increase of 1%
The production & manufacturing industry had the highest increase in job posting activity at 14%
The oil & gas sector saw a 12% increase due to increased domestic demand and industrial activity
In tier 2 cities, hiring showed robust growth of 6%. In metro cities, hiring showed an uptick of 7%
The white-collar jobs market in India increased by 5% in February 2023 on a month-on-month basis, according to a report from employment intelligence agency Foundit. Despite macroeconomic challenges, domestic enterprises focused on accelerating their growth story, resulting in increased economic activity in India, according to the Foundit Insights Tracker for February.
The report also noted a marginal year-on-year increase (by +1%) in e-recruitment. Entry-level positions saw a rise with the onset of the placement season across campuses.
Experts said India Inc showed itself capable of hiring freshers in rising numbers and enabling a diverse and inclusive workplace. The tech industry, which remains the largest employer of fresh talent and women, has been instrumental in leading India’s post-pandemic recovery and will continue to drive growth. The report also mentioned that the government’s push to “Make in India” will spur economic activity and enable job growth.
In February, the production & manufacturing industry had the highest increase in job posting activity at 14% on a month-on-month basis, followed by the oil & gas sector, which saw a 12% increase due to increased domestic demand and industrial activity. The Engineering, Cement & Construction industry also saw job prospects grow with the increase of real estate projects in tier 1 and tier 2 cities. The healthcare industry, Travel & Tourism, and Business Process Outsourcing (BPO) industry also showed optimistic hiring trends.
Printing & Packaging, Import & Export, and agro-based industries saw a dip in hiring intent due to factors such as undersupply, high input costs, and global demand slowdown.
In tier 2 cities, hiring showed robust growth of 6%, with Coimbatore, Chandigarh, Vadodara, and Ahmedabad exhibiting positive hiring sentiments. In metro cities, hiring showed an uptick of 7%, with Chennai, Hyderabad, and Kolkata leading the charge.
The demand for entry-level job seekers was high in February, with close to 42,000 active jobs available for freshers, indicating a 9% increase in job activity. The majority of job opportunities, about 63%, were targeted towards graduates, with start-ups contributing to 14% of jobs. The IT industry offered the highest salary range at INR 3.45 lakh to INR 6.75 lakh for entry-level professionals, followed by the BFSI industry at INR 3.28 lakh to INR 5.40 lakh.
Source: Economic Times