White-collar hiring in India drops 19% in July
NEW DELHI, INDIA — The white-collar job market in India experienced a significant decline, with a 19% drop in hiring in July compared to the same period last year.
The latest Naukri JobSpeak Index, a monthly gauge of the nation’s job market, showed that job postings for white-collar hiring in July were 2,573, down 8% from June and a 19% fall compared to July 2022.
The IT industry felt the sharpest dip, with a 46% decrease in new job creation compared to last July. Similarly, Business Process Outsourcing (BPO), Fast-Moving Consumer Goods (FMCG), retail, insurance, and education sectors saw a 16-23% reduction in new job creation during the same period.
In contrast, domestic-focused sectors like oil and gas and real estate maintained strong hiring trends, demonstrating resilience in the domestic economy.
“Positive hiring trends witnessed across domestic sectors such as oil and gas, real estate, and hospitality, along with stable hiring for AI-related roles, showcase the adaptability and diversification of the Indian job market,” said Naukri.com Chief Business Officer Pawan Goyal.
While traditional industries saw a downturn, demand for specialized roles like full-stack AI scientists and ML engineers in tech and finance sectors increased by 9% and 6%, respectively, since the beginning of the year.
Cities like Jaipur and Vadodara also reported growth in hiring trends driven by oil and gas, pharma, and auto sectors.
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